The transportation vertical is seeing accelerated momentum amid strong demand for engineering services by global electric-vehicle (EV), autonomous and new-age e-mobility players, said Amit Chadha, MD and CEO, L&T Technology Services (LTTS).
“EV players are at the forefront of leveraging the innovation-led capabilities of engineering and R&D (ER&D) services to usher in much-required transformation in the green mobility ecosystem,” he said.
“This trend indicates a surge in demand for high-end engineering services from future-facing e-mobility companies,” Mr. Chadha added. Electric vehicle manufacturers were looking for ER&D services for product development, with expertise ranging from build-to-specification-definition to vehicle-level integration, he said.
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“We are focussed on the ER&D segment, which offers tremendous growth potential of the kind the IT sector saw in its heyday,” he added.
“This pure-play position in ER&D makes us stand out from the crowd. We are also strengthening our focus on Electric, Autonomous & Connected Vehicle areas,” he added.
“Our winning a $45-million deal in Q3 from a U.S-based tier 1 automotive client was reflective of this,” he pointed out.
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According to Mr. Chadha, while EV players continued to pursue newer capabilities, their ecosystem partners were embracing technology in a ‘big way, resulting in a positive domino effect’.
According to Nasscom’s estimates, engineering and R&D services would be a $100-billion opportunity for India by 2025-26.