L&T Technology Services signs €50 million deal with European auto manufacturer

L&T Technology Services (LTTS), a mid-sized engineering and technology services company, has announced a deal worth €50 million ($54 million or around Rs 460 crore) with a European automotive original equipment manufacturer (OEM).

The tenure of the deal or the name of the company was not disclosed.

The Larsen & Toubro (L&T) subsidiary said it would set up a new development centre leveraging software-defined vehicle (SDV) and advanced driver-assistance system (ADAS) capabilities for the client.


The deal was announced just two months after LTTS secured an $80 million multi-year deal with a US-based industrial products manufacturer.

Following the announcement, shares of LTTS jumped over 1.6% to trade at around Rs 4,573.45 apiece in afternoon trade on Tuesday, even as the BSE Sensex was trading down over 1.8%.

“The latest large deal engagement focuses on the development and operation of next-generation software platforms tailored to both current and upcoming vehicle models. The comprehensive scope of this transformational deal includes the establishment of a development centre, which will play a critical role as part of the client’s global right shoring strategy,” the company said in a statement.

The client’s advanced technology stack includes a unified architecture, a proprietary operating system, and an automotive cloud, it added.

“We are thrilled to collaborate with one of the most influential automotive leaders in Europe,” said Amit Chadha, chief executive & managing director at LTTS.

Currently, the company’s electric vehicle (EV) lab in Bengaluru serves as a hub for the development and testing of advanced EV technologies.

The European auto manufacturer is also developing vehicle features such as standardised infotainment platforms, software solutions integrating powertrains, chassis and charging infrastructure, and an expansive digital ecosystem delivering enhanced in-car digital services.