KPIT Tech rides on BMW

KPIT Technology announced today morning that it has received a large-scale order from the BMW group.

As part of the strategic collaboration, KPIT has been nominated as the single source software integration partner for the next generation 11KW combined charging electronics program powering the upcoming BEV’s of BMW Group. MicroFuzzy and KPIT will perform the role of a strategic software partner and will be responsible for complete development, integration, validation and series software maintenance, to accelerate the technologies a future electric vehicle requires. This order is spread over several years.

The combined powertrain coordination unit is designed to power the next generation power electronics architecture of BMW Battery Electric Vehicles (BEV’s) and involves software development, integration, and maintenance.

The market has given this order a thumbs up and the stock opened at its intraday high at Rs.102, up 8%. Its 20% UC is at Rs.113.40. It has come off the high though and is now trading at Rs.99 levels.