HfS Positions L&T Technology Services in ‘Winner’s Circle’ for Automotive Engineering Services
L&T Technology Services (NSE: LTTS), a leading global pure play engineering services company, has been positioned in the ‘Winner’s Circle’ for excellence in innovation and execution by HfS Research, the Service Research Company™. In its ‘Blueprint Report for Automotive Engineering Services for 2018’, HfS rated LTTS among the top 5 innovative companies in the world.
The HfS Report evaluated LTTS across both the value chain & product development lifecycle and acknowledged the company’s expertise in these domains.
LTTS has developed autonomous vehicle features solutions in collaboration with a Chinese Tier-1 company, partnered with a German automotive OEM to develop electric vehicles and developed telematics platforms for connected car development.
HfS in its report also highlighted LTTS’ unparalleled expertise in the Off-Highway segment.
“LTTS has the highest presence in the off-highway vehicle sector among all the service providers evaluated for this Blueprint report. It has worked on new product development, and hydraulic hybrid solution areas with off-highway OEMs,” the report stated.
It added that LTTS’ percentage of clients with long-term 5+ year contracts is one of the highest among the service providers.
LTTS counts 11 of the top 20 automotive OEMs and 25 of the top 100 auto parts suppliers as its customers. It has over 15 major automotive engineering services delivery centers across the globe in North America, Germany, Sweden, India & Japan.
Shailendra Shrivastava, Global Head of Ground Transportation at L&T Technology Services said, “LTTS offers our global clients end-to-end domain expertise across the value chain due to strong innovation credentials in automotive engineering. We command strong presence in the off-highway vehicle sector and our autonomous vehicle solutions are already in production. We are also involved in electric powertrain design and battery management services. LTTS is rolling out solutions across EV, cyber security and autonomous driving across India, Israel, Europe and USA, through its multiple design-centers. We will continue to invest in our future capabilities to be the best in the industry.”
Pareekh Jain, Senior Research Vice President, HfS Research said, “LTTS has always stood out from other automotive engineering services providers with its robust client base of leading global automotive OEMs, innovation driven culture, technological prowess and strong suite of patents and IP solutions. In addition, LTTS’ solid background in the ER&D industry means that it can provide a continuum of services by leveraging acquisitions and partnerships across various verticals, and geographies.”
HfS commended LTTS for facilitating a culture of ‘strong innovation’ within the organization. LTTS was also praised for its high number of patents, joint strategic research with clients and solid presence in off-highway vehicle segment.
As part of the blueprint methodology more than 1000 data points were collected in the fourth quarter of FY 2017 and first quarter of FY 2018, covering 25 major service providers, buyers, providers and advisors/ influencers of automotive engineering services.
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 52 Fortune 500 companies and 51 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 13,000 employees spread across 16 global design centers, 27 global sales offices and 42 innovation labs as of June 30, 2018.