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KPIT Technologies shares climb 8% on large deal win from BMW Group

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KPIT Technologies shares climb 8% on large deal win from BMW Group

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The share price of KPIT Technologies jumped 8 percent on Wednesday after the company won a strategic large deal with BMW Group.

KPIT Technologies shares climb 8% on large deal win from BMW Group
The share price of KPIT Technologies jumped 8 percent on Wednesday after the company won a strategic large deal with BMW Group. The stock gained as much as 8 percent to Rs 102 per share on the NSE.
At 11:45 am, the shares traded 3.23 percent higher quoting at Rs 97.5.

The automotive software company will be the single source software integration partner for the next generation 11KW combined charging electronics program powering the upcoming battery electric vehicles of BMW Group, said the exchange filing.

The series order is spread over several years, added the filing further. Any details on the deal amount were not stated in the company filing.
The engagement covers designing the next-generation power electronics architecture of BMW Battery Electric Vehicles and involves software development, integration, and maintenance of combined powertrain coordination units, including charging control, and extends over several years, the filing said.
The execution of this strategic software program will be led by MicroFuzzy, a KPIT Group company, which specializes in vehicle electrification engineering. MicroFuzzy and KPIT will perform the role of a strategic software partner and will be responsible for complete development, integration, validation and series of software maintenance, added the filing further.
 
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