Key Points of KPIT Technologies Partners with Honda:
- KPIT Technologies share price surges 7% after announcing partnership with Honda for SDM journey.
- KPIT Tech will provide software solutions for Honda’s SDM roadmap until 2030 and beyond.
- The partnership will include over 2,000 software and vehicle system professionals from KPIT worldwide.
- Honda’s software architecture and control-safety technology will be combined with KPIT’s software expertise in autonomous driving, vehicle electrification, and in-vehicle infotainment systems.
- KPIT and Honda have been partners for eight years.
- KPIT Technologies reported a 49% YoY increase in total income to Rs 938 crore in Q3FY23, and net profit rose 44% YoY to Rs 100 crore.
- KPIT’s stock has risen 47% in the past year and 39% in the past six months, currently trading 5.66% higher at Rs 822.60.
Details of KPIT Technologies Partners with Honda:
KPIT Technologies Stock Surges 7% on Partnership with Honda to Drive SDM Journey
KPIT Technologies share price increased by 7% on Wednesday following the announcement of a strategic partnership with Honda to accelerate Honda’s software-defined mobility (SDM) journey. KPIT Tech, which provides software solutions to the automotive and mobility industry, stated that the partnership will expand to include more than 2,000 software and vehicle system professionals from KPIT across the world, supporting Honda’s SDM roadmap until 2030 and beyond.
The partnership will leverage Honda’s cutting-edge software architecture and control-safety technology and KPIT’s deep domain and software expertise in autonomous driving, vehicle electrification, in-vehicle infotainment systems, and platform software.
Honda and KPIT have been partners for eight years. KPIT Technologies recently reported a 49% YoY increase in total income to Rs 938 crore in Q3FY23. Net profit also rose 44% YoY to Rs 100 crore compared to Rs 70 crore in Q3FY22, with net profit for the September quarter at Rs 83 crore.
KPIT’s stock has risen by a significant 47% in the past year and 39% in the past six months. As of 12:58 p.m., the scrip was trading 5.66% higher at Rs 822.60, while the benchmark Nifty was up 0.15% at 17,068.25 points.
About KPIT Technologies:
KPIT Technologies, an Indian multinational corporation, specializes in offering embedded software and product engineering services to automotive companies. The company, commonly referred to as KPIT, is based in Pune and operates development centers across India, Europe, USA, Japan, and China.
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