Korean automotive cybersecurity firm AUTOCRYPT said on July 30 that it has formed a strategic business partnership with Elektrobit, the German automotive software company whose software runs in more than 600 million vehicles worldwide, combining Elektrobit's SDV platforms with AUTOCRYPT's UN R155/R156 compliance, ISO/SAE 21434 development, PKI and V2X security. AUTOCRYPT values the resulting opportunity at 122 billion KRW a year — 8 billion from Korean exclusive rights, 22 billion from co-selling to carmakers and suppliers, and 92 billion from wider supply to existing customers — and the two will jointly target China, India and other Asian markets.

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