KPIT Technologies jumped 5.08% to Rs 99.30 after the company announced signing of a large-scale order with BMW Group.
"The series order is spread over several years, the software solutions provider said in a BSE filing made before market hours today.
The combined powertrain coordination unit is designed to power the next generation power electronics architecture of BMW Battery Electric Vehicles (BEV's) and involves software development, integration, and maintenance. The integrated charger unit is an onboard charger that is combined with the vehicle control unit.
MicroFuzzy, A KPIT group company, a specialist in vehicle electrification engineering along with KPIT's electric powertrain team will be at the forefront of executing this strategic software program and represents the first step for the BMW Group in establishing strategic software development partners for automotive software.
The company further said that as part of the strategic collaboration, KPIT had been nominated as the single source software integration partner for the next generation 11KW combined charging electronics program powering the upcoming BEV's of BMW Group. MicroFuzzy and KPIT would perform the role of a strategic software partner and would be responsible for complete development, integration, validation and series software maintenance, to accelerate the technologies a future electric vehicle requires.
Kishor Patil, CEO of KPIT Technologies, shared "We are very happy to see the foresight of BMW Group towards investing in vehicle electrification programs that will have long reaching impact. We are happy to broaden our existing partnerships with BMW Group, and reinforce our offering as a software integration partner."
KPIT Technologies operates as a technology company. The company specializes in embedded software, artificial intelligence, and digital solutions and serves automobile industry worldwide.
The IT firm reported a 12.09% rise in consolidated net profit to Rs 27.15 crore on a 1.47% decrease in revenue from operations to Rs 485.45 crore in Q2 September 2020 over Q1 June 2020.
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