Copart Inc, a California-based online vehicle auctions company has set up its India Technology Center in Hyderabad, first such centre outside of the US. The company operates in more than 190 locations in 11 countries and has over 1,25,000 vehicles up for auction every day.
The company maintains large data base of buyers, sellers, vehicles and insurance companies and the Hyderabad centre will provide the technology support for the company’s global operations and will play a key role in its growth in India.
The $7 billion Copart Inc, which has started its operations in Hyderabad through the technology centre has hired 20 people now and will take this number to over 150 by year-end. It expects to expand between 200 and 300 employees by the end of 2018.
Inaugurating the technology centre of Copart, KT Rama Rao, Minister for IT and Industries, Government of Telangana, “Copart must bring its unique model of salvage car remarketing to India, work with the IRDA to understand the Indian regulations and work towards getting license to increase the Copart business in India.”
“We believe drawing upon the wealth of technical talent available in Hyderabad will allow us to address the software development demands created by our rapid growth and international expansion,” said Will Franklin, executive vice-president, Copart.
“Further, we see India as a market in which our skills in addressing catastrophes can be extremely beneficial to local communities in times of need and our unique position in the disposition chain of damaged can ensure compliance with environmental and end of life vehicles.” He also noted that Copart collected more than 80,000 and 55,000 cars in response to Hurricane Katrina and super-storm Sandy, respectively.
“Government is glad that Copart has chosen Hyderabad for this centre. The city is growing and provides ecosystem for companies like Copart to expand their operations further. With the Insurance Regulatory Development Authority of India operating in Hyderabad, the State government can help Copart connect with the regulator. We will also advocate on the company’s behalf the role it can play in environment protection.”
He added, “The line of business Copart operates is new for India. India as a market is not used to salvaging or refurbishing vehicles.”
Mohammed Khuddus, head and director, India Technology Center, told Telangana Today, “India is relatively a new market for Copart. There is an enormous opportunity. And the technology centre in Hyderabad will play an active role in the company’s global operations. With adequate talent available in Hyderabad, the company will scale up quickly.”
He informed, “We have entered into India market two years ago and have created a car yard that can accommodate 2,000 cars. Globally, all the yards that we have can accommodate easily about 5,000 cars. In the US, Corpat gets access to vehicles which are not functional that are put up for auction and key auto mechanics and workshops can extract the metal and automotive parts. In India, with BS-III vehicles facing ban, we are in this market at the right time. We don’t have any competition here and we have just few players in this space in the US.”
“Globally we have a budget to spend $60 million on technology and of which $10 million will be invested in the technology centre created in Hyderabad this year. We are constantly revamping technology, said,” Rama Prasad, chief technology officer, Corpat.