KPIT Technologies becomes strategic technology partner for Renault Group; stock soars ~6%

23 Nov 2022 , 01:42 PM

KPIT Technologies, one of the largest software integration partners in the automotive and mobility industries, announced that it has been chosen as a strategic software scaling partner by Renault Group for next-generation SDV programs.

Renault Group is investing heavily and forming strategic alliances to create an industry-leading SDV platform. This platform will drive Renault Group’s global growth in the coming decades by providing an unparalleled experience to end users and enabling monetization throughout the life of the vehicle.

KPIT’s two decades of experience in automotive and mobility software, cross-domain competencies, global scale, and ecosystem of alliance partners, as well as expertise in developing SDV roadmaps for several industry leaders, place them in the best position to contribute to the Renault Group’s vision.

KPIT’s global footprint, combined with access to a talent pool and robust training programmes, will enable the programme to achieve the desired scale.

Renault Group anticipates that the SDV technology programmes will add value to its 2026 vehicle production roadmap.

At around 1.56 PM, KPIT Technologies was trading 5.88% higher at Rs724, against previous close of Rs683.40 on NSE. The counter hit intraday high and low of Rs725 and Rs685.10 respectively.

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