DETROIT, July 24, 2024 (GLOBE NEWSWIRE) -- SDVerse, a marketplace for buyers and sellers of automotive software, on July 24th, 2024, announced that global power technology leader Cummins Inc. has joined the first-ever software marketplace, SDVerse, as Premier Partner. With this partnership, Cummins will gain access to innovative solutions, accelerating development with faster procurement, boosting efficiency, performance, and profitability in commercial mobility.
SDVerse is a digital marketplace supporting the sourcing of automotive software through discovery and matchmaking where sellers can list their software with features and attributes, while buyers can search and compare sellers’ available software products. The marketplace allows for buyers and sellers to securely communicate. Buyers can send requests for information (RFIs) to multiple vendors simultaneously, expediting the procurement process.
Products on the marketplace range from onboard software across vehicle domains to offboard software, along with tools and services. SDVerse is backed by founding members General Motors (GM), Magna and Wipro to meet the growing demand for automotive software and provide transparency between buyers and sellers. SDVerse enables companies to implement automotive software more quickly and accelerate the development process of software-defined vehicles.
“For decades, Cummins has been at the forefront of innovative power solutions, and joining SDVerse represents a step forward in our dedication to advancing automotive capabilities,” said Joan Wills, Executive Director of Software & Electronics Engineering at CCS (Cummins Components and Software). “By leveraging the SDVerse ecosystem, we are expecting to substantially reduce the time and effort required to implement capabilities of connected vehicles and deliver even greater value to our customers. We are excited that a dynamic marketplace like SDVerse has come into existence to address the pain points associated with the growing demand for automotive software.”
Cummins joined SDVerse to accelerate its shift toward a software-defined future, embracing new business models and technologies for faster innovation. SDVerse will provide Cummins access to buy and sell cutting-edge software, broadening their exposure to global vendors and pushing industry-wide adoption of standardized solutions. This partnership marks SDVerse’s entry into the commercial vehicle industry, signaling a step toward expanding its marketplace to cater to the demand for versatile transportation solutions.
“Cummins is recognized as a leader in the global power solutions industry, and their decision to join SDVerse reinforces the customer demand and currently unfilled need for the marketplace that SDVerse has created,” said Prashant Gulati, CEO of SDVerse. “By streamlining the selection process for buyers and sellers of automotive software, companies can allocate their resources elsewhere within the company and focus on their core competencies. With SDVerse, buyers and sellers can save up to 80% of time spent from product discovery to quote generation, enabling cost-savings and resource reallocation.”
SDVerse creates transparency of software offerings and capabilities for buyers while offering an industry wide commercial platform for automotive software for sellers. SDVerse is currently in development and expected to feature hundreds of automotive software products, and participants from across the automotive value chain are invited to join. In addition to its founding members, an exclusive Launch Partner group is in place led by Ampere (Renault Group), FEV, Forvia, HL Mando, NXP Semiconductors, TTTech Auto and Valeo. SDVerse will officially launch its subscription-based marketplace in Q3 2024.
About Cummins Inc.
Cummins Inc., a global power solutions leader, is comprised of five business segments – Components, Engine, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company’s commitment to sustainability and helping its customers successfully navigate the energy transition with its broad portfolio of products. The products range from advanced diesel, natural gas, electric and hybrid powertrains and powertrain-related components including, aftertreatment, turbochargers, fuel systems, valvetrain technologies, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, batteries, electrified power systems, hydrogen production technologies and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 75,500 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment, and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $735 million on sales of $34.1 billion in 2023. See how Cummins is powering a world that's always on by accessing news releases and more information at https://www.cummins.com/.
About SDVerse
SDVerse is a first-of-its-kind B2B marketplace for buying and selling automotive software. Backed by founding members General Motors (GM), Magna and Wipro, SDVerse is accelerating the future of software-defined vehicles by providing a matchmaking marketplace for buyers and sellers that benefits the entire automotive ecosystem. Its standard-agnostic marketplace is available to all OEMs, suppliers and any other company with relevant software offerings and tools. Learn more at https://www.sdverse.auto
Media Contacts:
Lauren Daniel
Cummins Inc.
lauren.daniel@cummins.com
Allie Potter
Skyya PR for SDVerse
218-766-8856
sdverse@skyya.com
