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L&T Technology Services announces CoE in Mysore to offer automotive solutions on AWS

The CoE will allow L&T Technology Services to transition its suite of technologies focused on the future of mobility and reduce time-to-market for end customers.

March 09, 2023 / 17:41 IST
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L&T Technology Services | CMP: Rs 3,687.95 | The scrip ended in the red after research firm Nomura initiated coverage on the stock with a ‘reduce’ rating. The Japanese research firm Nomura has initiated coverage on the stock with a reduced rating and has a target price of Rs 3,050 per share, a downside of around 20 percent from the current market price. According to Nomura, global engineering research & development (ER&D) total spending was $1.3 trillion in CY21, and expects the Everest Group to record a compound annual growth rate (CAGR) of around 6.6 percent over CY21-24E, led by digital engineering services (12.4 percent CAGR) as enterprises continue to revamp products, services and processes.

L&T Technology Services (LTTS) on Thursday announced a new Centre of Excellence (CoE) in Mysore, Karnataka, that leverages the power of the cloud with Amazon Web Services (AWS).

The CoE will allow L&T Technology Services to transition its suite of technologies focused on the future of mobility and reduce time-to-market for end customers. ”By leveraging AWS infrastructure, LTTS will provide an opportunity to use AWS to support the automotive domain,” according to a release.

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Backed by its engineering domain expertise in Electric, Autonomous, and Connected Vehicles (EACV), LTTS has been helping original equipment manufacturers (OEMs) to develop next-generation vehicles and aircraft that have tailored solutions focused on safety and security.

”The new CoE will leverage LTTS’ cross-disciplinary skillsets covering embedded, mechanical, and digital facets of engineering,” the release added. LTTS has been actively working with global technology companies like AWS to bring digital engineering solutions to end customers on the cloud.