L&T Technology Services bags Euro 50 million deal with European automaker

L&T Technology Services (LTTS) said it signed a deal worth Euro 50 million with a European automotive company, which will help it gain traction in the mobility business.

 

The deal will focus on the development and operation of next-generation software platforms tailored to both current and upcoming vehicle models. It also involves setting up a development centre, which will play a critical role as part of the client’s global right-shoring strategy.

 

Amit Chadha, chief executive officer and managing director of LTTS, said, “We are thrilled to collaborate with one of the most influential automotive leaders in Europe. Our expertise in electric vehicle (EV) technologies, software-defined vehicles (SDVs) and advanced driver assistance systems (ADAS), complemented by our robust digital engineering capabilities, positions us to create a powerful impact for our customers, making future-ready mobility a reality."

 

 

The customer’s advanced technology stack includes a unified architecture, a proprietary operating system, and an automotive cloud. Alongside this, it is spearheading the development of cutting-edge vehicle features such as driver assistance systems, standardised infotainment platforms, software solutions integrating powertrains, chassis and charging infrastructure, and an expansive digital ecosystem delivering enhanced in-car digital services.

 

The deal comes at a time when the automobile segment in Europe has been under tremendous pressure as sales of electric vehicles by home-grown automakers have slowed down due to cheaper Chinese variants.

 

In January this year, the company had bagged an $80 million deal with a United States-based manufacturer of industrial products and solutions.

 

Post the third quarter of FY25, the company has guided for a near 10 per cent revenue growth in constant currency for FY25. The company had its highest-ever deal booking total contract value (TCV), aided by eight large deals across segments — one $50 million, two $35 million, two $25 million and three $10 million deals.