8APRIL- 2025L&T TECHNOLOGY SERVICES SECURES 50M DEAL WITH EUROPEAN AUTO MANUFACTURERL&T Technology Services (LTTS) has announced a 50 million ($54 million or around Rs 460 crore) deal with a European automotive original equipment manufacturer (OEM), a mid-sized engineering and technology services company. The duration of the agreement or the name of the company was not disclosed. The Larsen & Toubro (L&T) subsidiary said it will create a new development facility to take advantage of the client's software-defined vehicle (SDV) and advanced driver-assistance system (ADAS) capabilities.The announcement came just two months after LTTS announced an $80 million, multi-year agreement with a US-based industrial products manufacturer.After the announcement, LTTS shares rose even more than 2percent, with a price of around Rs 4,574 per share at midday on Tuesday, despite BSE Sensex being down over 1.8percent."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. IMRINDIA'S FIRST HOMEGROWN MICROCONTROLLER SET TO LAUNCH IN SIX MONTHSIndia's first indigenously designed commercial microcontroller is likely to be launched in the next six-to-seven months by Chennai-based Mindgrove Technologies, its co-founder and chief executive Shashwath T R told FE. The company has begun production of its Secure IoT chip."We've finished the prototyping and the design changes required after testing. If all goes to plan, we want to launch the chip by September-October this year," he said.The Secure IoT chip is applicable in wearables (smartwatches and headphones), connected home devices (smart locks, speakers, and smart fans), smart city devices (electricity, water, and gas meters), access control devices (biometrics), and other devices such as thermal printers and point-of-sale machines, and EV battery management. Shashwath explained that the manufacturing quantity will be determined in the coming weeks as the company completes contracts with firms who need the microcontroller.While it prepares to commence commercial manufacturing for the first chip, the design startup is also completing the design of its second chip -- the Vision SoC chip. Targeted for high-performance edge computing and video processing applications, Vision SoC (System-on-Chip) will be appropriate for applications and devices with functions that require identification and video processing.This chip will have application use cases in devices such as CCTV cameras, dashcams, video recorders, automotive ADAS, smart TVs, and conjunction with other devices with video processing requirements. The company received approval for the development of the second chip from the Ministry of Electronics and Information technology in September of last year under the design-linked incentive scheme. IMRTOP STORIES
< Page 7 | Page 9 >