L&T Technology Services (LTTS) announced on Monday that it has been awarded a 5-year, multimillion-dollar contract with BMW Group to provide high-end engineering services for the company’s suite of infotainment consoles for its family of hybrid vehicles.
The BMW Group is the world’s leading manufacturer of premium automobiles and motorcycles and provider of premium financial and mobility services.
The IT solutions provider said the big contract was awarded to LTTS because of its deep domain expertise and engineering leadership in transport technologies and its proven ability to provide unique opportunities to develop projects. existing ones and work on new ones. The LTTS engineering team will provide services in the areas of software build and integration, infotainment validation and defect management, he added.
LTTS has a center near the coast that provides engineering and R&D services for BMW Group’s suite of infotainment consoles and its family of hybrid electric vehicles. The proximity to the BMW Group campus will allow LTTS engineers to work on a variety of solutions and offer real-time services, the engineering services company said.
Abhishek Sinha, COO and Board Member of L&T Technology Services, said, “This latest contract win is a testament to LTTS’ long-standing expertise in automotive engineering services. Our transportation engineering services enable leading OEMs to build innovative, sustainable vehicles and accelerate time to market using new era digital technologies. We are delighted to strengthen our existing engagement with the BMW Group and are fully committed to deploying our digital engineering capabilities and participating in the launch of their new family of hybrid vehicles.
LTTS is a listed subsidiary of Larsen & Toubro specializing in engineering and R&D (ER&D) services. It offers consulting, design, development and testing services throughout the product and process development lifecycle.
The company recorded a 4.7% increase in its consolidated net profit to Rs 274.20 crore on a 6.7% increase in revenue to Rs 1,873.70 crore in the first quarter of the fiscal year 23 compared to the fourth quarter of fiscal 22.
Shares of L&T Technology Services fell 2.11% to Rs 3,591.35 on BSE.
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