EROAD Partners with Geotab to Broaden Solutions

AUCKLAND, 29 October 2024: Fleet management and transport technology software company EROAD (NZX: ERD, ASX: ERD) today provides a market update announcing a strategic partnership with global telematics leader Geotab, aimed at expanding EROAD’s fleet management offerings across Australasia.

This collaboration brings together the strengths of both companies, unlocking new opportunities in the light commercial vehicle sector through the integration of Geotab’s affordable hardware with EROAD’s advanced fleet management platform.

As one of the largest telematics providers in Australasia, EROAD has a strong reputation for delivering enterprise-grade solutions to help customers manage complex transport regulatory challenges. By partnering with Geotab — which has over 4M connected vehicles globally and strong OEM relationships — EROAD can now provide a broader range of solutions, meeting the diverse needs of its customers. This partnership enables EROAD to tap into a largely underserved segment of the market while maintaining its commitment to data quality and innovation.

The global telematics market is growing at an annual rate of around 12-16% (i) , with significant potential in both New Zealand and Australia. It is estimated that the light commercial vehicle fleet size is around 800,000 in New Zealand and 4m in Australia (ii). However, EROAD’s research indicates that only 48% (iii) of these fleets currently use telematics, revealing a substantial opportunity for growth in this space.

The partnership’s first initiative is the launch of EROAD Locate, a simple and cost-effective telematics solution for light commercial vehicles, utilising Geotab’s GO9 device. This product will be introduced in New Zealand and Australia, targeting mainstream fleet operators who need a straightforward solution to track and manage their vehicles efficiently.

“This partnership with Geotab marks a significant milestone for EROAD’s growth,” says EROAD Co-CEO Mark Heine. “We have excelled in delivering solutions for fleets with complex needs. Now, with EROAD Locate, we can offer an appealing and affordable option for light commercial vehicle fleets, allowing more businesses to access the benefits of telematics.”

“We’re always looking for ways to help our customers operate safer, more efficient and sustainable fleets,” adds Mark Heine. “This partnership with Geotab accelerates our ability to deliver a low-cost, high-quality solution that meets the needs of a wider range of fleets, especially those that have been priced out of telematics solutions in the past.”

With this partnership, EROAD is well-positioned to drive future growth and continue innovating within the fleet management space, delivering greater value to its customers and expanding its footprint across Australasia.

ENDS

Authorised for release to the NZX and ASX by EROAD’s General Counsel & Company Secretary, Ksenija Chobanovich.

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About EROAD
EROAD is a fully integrated technology, tolling and services provider, based in Auckland, New Zealand. They were the first company in the world to implement a GNSS/cellular-based road charging solution across an entire country. They design and manufacture in-vehicle hardware, operate secure payment and merchant gateways and offer web-based value-added services. EROAD modernises road charging and compliance for road transport by replacing paper-based systems with easy-to-use electronic systems. They are the largest provider of road user charges (RUC) compliance in New Zealand, and a leading provider of health and safety compliance and fleet management solutions. EROAD is listed on the New Zealand Stock Exchange (NZX) and Australian Stock Exchange (ASX) under the stock symbol of ERD. www.eroad.co.nz

About Geotab
Geotab is a global leader in connected transportation solutions. They provide telematics - vehicle and asset tracking - solutions to over 50,000 customers in 160 countries. For more than 20 years, they have invested in ground-breaking data research and innovation to enable partners and customers, including Fortune 500 and public sector organizations, to transform their fleets and operations. With over 4 million subscriptions and processing more than 75 billion data points a day, they help customers make better decisions, increase productivity, have safer fleets, and achieve their sustainability goals. Geotab's open platform and Marketplace, offers hundreds of third-party solution options. Backed by a team of industry leading data scientists and Al experts, Geotab is unlocking the power of data to understand real-time and predictive analytics-solving for today's challenges and tomorrow's world. To learn more, visit www.geotab.com/au, and follow Geotab on LinkedIn https://www.linkedin.com/company/geotab.

i EROAD analysis from multiple external sources
ii ANZ Telematics report by Berg Insights December 2022
iii EROAD 2022 Sustainability Survey Report

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Announcement PDF