Motilal Oswal added that several Asian OEMs are 'pivoting' toward hybrids and more localised strategies, and global players are betting on software as the next 'competitive frontier'.
JSW Motors also highlighted plans to invest $3 billion over five years to develop and make electric, hybrid, and plug-in hybrid cars in India. Under the partnership, KPIT will set-up a dedicated center of excellence for JSW Motors.
KPIT Tech share price: Company expects to begin consolidating revenues from the acquisition in Q2FY26, adding an estimated 4 percent to its FY26 topline over the previous year.
Aside from the ratings upgrades awarded by JPMorgan, the brokerage also remains overweight on LTIMindtree and Infosys.