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Tata Elxsi opens global engineering center for Schaeffler's mobility solutions

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Tata Elxsi is the global engineering services partner for Schaeffler, and the global engineering center (GEC) is part of a strategic multi-year engineering services engagement.

Schaeffler Technologies AG & Co. KG is a world leader in providing mechatronics solutions for the Transportation industry.

Tata Elxsi said the GEC center in Pune will focus on mechatronics, digital & embedded technologies with the highest level of talent in line with Schaeffler's vision for driving "Mobility for Tomorrow". This center will be pivotal to help accelerate innovation and drive digital transformation and growth for Schaeffler's mechatronics business.

On a standalone basis, Tata Elxsi's net profit jumped 41.2% to Rs 68.87 crore on 10.7% rise in net sales to Rs 400.49 crore in Q1 June 2020 over Q1 June 2019.

Tata Elxsi is a global design and technology services company. It addresses the automotive, broadcast and communications, consumer electronics and healthcare industries. Tata Elxsi works with leading OEMs and suppliers in the automotive and transportation industries for R&D, design and product engineering services from architecture to launch and beyond.

Shares of Tata Elxsi declined 3.16% to Rs 1,166.70 on BSE. The stock is 12.27% below its 52-week high of Rs 1,330 hit on 14 September 2020. The scrip has soared 132.87% from its 52-week low of Rs 501 hit on 25 March 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, September 24 2020. 12:17 IST