Friday, May 20 2022 | Time 00:36 Hrs(IST)
Business Economy

L&T Technology Services wins USD 45 mn EV deal

Mumbai, Jan 18 (UNI) Global pure-play engineering services company, L&T Technology Services, on Tuesday said it has won a USD 45 million contract from a US-based auto firm to provide engineering services for the latter's electric vehicle business.
In a regulatory filing the company said, "It has been awarded a deal worth USD 45 million from a US based automotive Tier 1 company, to be its strategic engineering partner and provide engineering services for its electric vehicle (EV) product portfolio."
Under the terms of the 5-year agreement, LTTS will work with the customer to deliver solutions leveraging its e-mobility technology competence. This will be delivered from LTTS’ ER&D center in Krakow, Poland.
LTTS plans to have over 300 engineers working from its Krakow, Poland center in the next 3 years, marking its expansion into Eastern Europe, the company said.
“We have been investing in electric, autonomous and connected vehicle (EACV) as part of our six big bets and our engineers have developed several new scalable e-mobility solutions that can accelerate global automotive players’ EV development journey," L&T Technology Services CEO and Managing Director Amit Chadha said.
He further this landmark deal reinforces that the company's strategic investment is paying off and establishes LTTS’ dominant position in the EACV landscape.
"The Krakow R&D center will serve as a nearshore center to Western European and North American clientele across verticals," Chadha added.
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