L&T Technology Services signs a multimillion-dollar 5-year contract with BMW

L&T Technology Services signs a multimillion-dollar 5-year contract with BMW
1 month ago
2 mins read

L&T Technology Services (OTC: LTOUF) has won a 5-year, multi-million-dollar deal from German luxury vehicle maker BMW Group, according to an announcement made on August 29. 

The significant contract was given to LTTS as a result of the company’s extensive domain experience and engineering leadership in transportation technology, as well as the company’s demonstrated capacity to provide one-of-a-kind possibilities to scale up current projects and undertake new ones.

L&T Technology team of engineers will be providing services in the areas of software build and integration, infotainment validation, and defect management, primarily for the family of hybrid BMW vehicles.

Nearshoring production

L&T is also a listed subsidiary of Larsen & Toubro focused on Engineering and research and development (R&D) services in the Indian stock market (NSE: LTTS), offering consultancy, design, development, and testing services across the product and process development life cycle.

Abhishek Sinha, Chief Operating Officer, and Board Member, L&T Technology Services, stated:

“This latest deal win is a testament to LTTS’ long-standing expertise in the automotive engineering services domain. Our transportation engineering services are enabling leading OEMs to build innovative and sustainable vehicles and achieve faster time to market using new age digital technologies.” 

He also added:

“We are delighted to strengthen our existing engagement with BMW Group and are fully committed to deploying our digital engineering capabilities and assisting with the launch of their new family of hybrid vehicles.”

Accordingly, the deal was awarded to L&T due to their expertise in engineering and proven ability to scale up projects. With the near-shore center that provides engineering and R&D services to BMW, L&T will be able to help BMW and offer real-time services. The focus will be on hybrid electric vehicles and infotainment console kits that BMW offers.  

This cooperation will strengthen L&T’s existing engagement with BMW Group, as the firm remains committed to deploying its digital engineering capabilities for its premier clients.   

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.   

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Dino Kurbegovic

Dino is an investor and technology enthusiast with years of experience in managing complex projects. At Finbold he covers stories on stocks, investing, micro and macroeconomic trends. Also, he’s also building a micro solar power plants in his hometown.