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Telenav is trying to reassure shareholders on the GM-Google deal after the stock drops by 45%

Telenav Inc. endeavored to recoup from a precarious stock dive Thursday, reporting that its arrangement to give route administrations to General Motors Co. won’t…

Telenav Inc. endeavored to recuperate from a precarious stock dive Thursday, reporting that its arrangement to give route administrations to General Motors Co. won’t be influenced by the car producers new manage Google.

Telenav shares

TNAV, – 44.80%

sank 45% on Thursday before being ended toward the evening.

The selloff was started after GM

GM, +2.30%

reported an arrangement that would highlight Alphabets

GOOGL, +2.53%GOOG, +2.54%

Google applications incorporated straightforwardly with its vehicles contact screen shows. That incorporates Google Maps and Googles voice-actuated advanced right hand administration, the Wall Street Journal announced. Numerous financial specialists considered that to be an immediate risk to Telenav, which offers GPS route, search, infotainment and versatile publicizing on its foundation.

See:Auto producers and tech mammoths mauling for the last screen boondocks: the dashboard

Planning to console speculators, Santa Clara, Calif.- based Telenav said late Thursday that it has a solid and progressing association with GM, with an agreement powerful through model year 2025. GMs declaration today doesn’t modify the agreement in any capacity.

Telenav included that it doesn’t expect the GM-Google arrangement to influence its inward working conjectures for monetary years 2020 and 2021, and said its direction gave in August stays unaltered.

Telenav recommended the Google arrangement could have an effect in the long haul however. While Telenavs contract with GM goes through 2025, the organization said it doesn’t give least volume or buy necessities.

Independently, Telenav likewise declared late Thursday that it is working with Microsoft Corp.

MSFT, +1.76%

to give its clever associated vehicle arrangements suite with Microsofts Connected Vehicle Platform, which incorporates Volkswagen AG

Promise, +0.49%

what’s more, the Renault-Nissan Alliance

RNO, – 0.45%7201, +2.48%

as accomplices.

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