KPIT Expands Presence in Europe by Setting up a New Software Engineering Center in Munich

KPIT Technologies - a leading software integration partner to automotive OEMs and Tier 1s, today announced setting up of a European Software Engineering Center in Munich, Germany. This will be KPIT's largest global software integration and technology center in the area of Electrification, Autonomous Driving, AUTOSAR & Vehicle Diagnostics and will also house expertise in other areas including Digital Cockpit. It will complement KPIT's other global engineering centers across USA, Japan, Thailand, China and India to provide seamless software delivery into global vehicle programs.

KPIT has been operating in Germany for over 15 years and counts leading European OEMs and their suppliers as its customers. Represented by over 700 employees from more than 25 nationalities, this facility will serve as a global competence center to meet the complex automotive software needs amid significant technology shifts. KPIT has consistently grown in Europe, both organically and through acquisitions and partnerships with technology companies in Europe. MicroFuzzy, a KPIT group company specializing in software for Electrification will also make this center its home going forward.

In the interest of employee safety during the Covid-19 pandemic, KPIT will be taking the utmost precautions for a phase wise occupation of this facility over the coming months.

Commenting on this major milestone, Kishor Patil, CEO, KPIT Technologies said, "Europe is now our largest growth market and is a testimony to the significant investments we have made over the last decade in technologies that will make a difference to the automotive & mobility ecosystem. Investing in this facility reiterates our commitment to bring together the best of talent and drive innovation in automotive software for our clients worldwide."

Shares of KPIT Technologies Limited was last trading in BSE at Rs. 68 as compared to the previous close of Rs. 67.2. The total number of shares traded during the day was 8449 at an average price of Rs. 68.04.

The stock hit an intraday high of Rs. 69.35 and intraday low of Rs. 66.45.

Source : Equity Bulls

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