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Time of India
01-07-2025
- Automotive
- Time of India
LTTS and thyssenkrupp steering to set up global software hub in Pune
L&T Technology Services (LTTS) and thyssenkrupp Steering have entered into a strategic agreement to establish a global software development centre in Pune , India. The partnership aims to support the development of steering technologies and expand thyssenkrupp Steering's global engineering capabilities. The centre will be established and managed by LTTS, which will deliver software development services on behalf of thyssenkrupp Steering. Focus on safety-critical automotive software The new centre will focus on embedded systems, functional safety, and cybersecurity. It is part of thyssenkrupp Steering's broader initiative to support innovation in advanced steering systems and vehicle motion control, integrating steering, brakes, drivetrain, and dampers. 'Through this collaboration, we are expanding our software capabilities in India,' said Richard Hirschmann, SVP R&D at thyssenkrupp Steering. 'This centre will play a key role in delivering steering solutions to customers across the globe.' Patrick Vith, CEO of thyssenkrupp Steering, said, 'We aim to be the most trusted partner for steering solutions worldwide. This is part of our strategy to shape the future of mobility through innovation and global partnerships.' LTTS expands presence in mobility segment LTTS said the partnership is aligned with its Mobility segment, which focuses on building software for steering systems and electrification. The company was recently recognised as a Leader by Everest Group in its ACES Automotive Engineering Services PEAK Matrix Assessment. 'This collaboration highlights our work in the mobility space,' said Amit Chadha, CEO & Managing Director, LTTS. 'With over 250 programmes, 350 patents, and 45 labs, we continue to support clients in areas such as electrification and software-defined vehicle architectures.' Rajkumar Ravindranathan, Chief Business Officer – EMEA & RoW at LTTS, added, 'This partnership will help thyssenkrupp scale up, improve time-to-market, and reduce costs through software-led product development.' The Pune centre will support the growing demand for connected vehicle technologies and contribute to both companies' efforts in advancing mobility solutions, the company said.
Business Standard
30-06-2025
- Automotive
- Business Standard
thyssenkrupp Steering partners with LTTS to establish software development center in Pune
thyssenkrupp Steering, a global leader in steering systems, and L&T Technology Services have announced a strategic agreement to establish a state-of-the-art software development center in Pune, India. This collaboration marks a significant milestone for both companies in enabling modern automotive software solutions. The new center highlights LTTS' expertise in its Mobility segment, dedicated to developing safety-critical software for advanced steering technologies, while supporting thyssenkrupp's global engineering expansion. This collaboration further solidifies LTTS' global reputation in engineering intelligent and sustainable mobility. LTTS will establish and manage the software hub in Pune on behalf of thyssenkrupp Steering. From core vehicle engineering to next-gen software innovation, LTTS enables clients to deliver safer, smarter, and more personalized user experiences a positioning further validated by its recognition as a Leader by research firm, Everest Group in the ACES Automotive Engineering Services PEAK Matrix Assessment (Electric). possesses a deep knowledge of new electrical/electronic (E/E) architectures and software, as well as strong competence in steering technology. Its activities also extend to forward looking developments such as the Vehicle Motion Control system, which enables higher comfort, advanced safety, and highly autonomous driving through the high-level integration of steering, brakes, drivetrain, and dampers.
Business Wire
30-06-2025
- Automotive
- Business Wire
L&T Technology Services and thyssenkrupp Steering Business Unit Enter Into a Strategic Partnership to Establish a Global Software Hub in Pune, India
BUDAPEST, Hungary & PUNE, India--(BUSINESS WIRE)--thyssenkrupp Steering, a global leader in steering systems, and L&T Technology Services (LTTS), a leading global engineering and technology services company, have announced a strategic agreement to establish a state-of-the-art software development center in Pune, India. This collaboration marks a significant milestone for both companies in enabling modern automotive software solutions. The new center highlights LTTS' expertise in its Mobility segment, dedicated to developing safety-critical software for advanced steering technologies, while supporting thyssenkrupp's global engineering expansion. This collaboration further solidifies LTTS' global reputation in engineering intelligent and sustainable mobility. LTTS will establish and manage the software hub in Pune on behalf of thyssenkrupp Steering. From core vehicle engineering to next-gen software innovation, LTTS enables clients to deliver safer, smarter, and more personalized user experiences — a positioning further validated by its recognition as a Leader by research firm, Everest Group in the ACES Automotive Engineering Services PEAK Matrix Assessment (Electric). thyssenkrupp Steering has been developing steering systems for many years. The company possesses a deep knowledge of new electrical/electronic (E/E) architectures and software, as well as strong competence in steering technology. Its activities also extend to forward-looking developments such as the Vehicle Motion Control system, which enables higher comfort, advanced safety, and highly autonomous driving through the high-level integration of steering, brakes, drivetrain, and dampers. 'We are excited to partner with LTTS to expand our software capabilities in India,' said Richard Hirschmann, SVP R&D at thyssenkrupp Steering. 'This center will play a crucial role in driving innovation and delivering next-generation steering solutions to our global customers.' Patrick Vith, CEO of thyssenkrupp Steering, emphasized: 'We are driven by a clear strategic ambition: to be the most trusted partner for steering solutions worldwide. We aim to shape the future of mobility through innovation, operational excellence, and strong global partnerships.' Amit Chadha, CEO & Managing Director, L&T Technology Services, said, 'This collaboration with thyssenkrupp Steering highlights LTTS' leadership in the Mobility space. Our expertise in electrification, hybrid systems, and software-defined vehicle architectures drives intelligent, sustainable mobility, supported by 250+ programs, 350 patents, and 45 labs. By adding a prominent Tier-I automotive partner to our portfolio, this partnership reaffirms our role as the go-to innovation partner for future-ready mobility solutions.' Rajkumar Ravindranathan, Chief Business Officer – EMEA & RoW, L&T Technology Services, said, 'We are honored to be part of this significant milestone in thyssenkrupp's transformation journey. Through this partnership, and by leveraging our deep expertise in building safety-critical, software-led products, LTTS will deliver scale, faster time-to-market, and cost-effective innovation, enabling thyssenkrupp to sustain and grow its market leadership.' The Pune center will serve as a hub for cutting-edge software development, including embedded systems, functional safety, and cybersecurity, aligning with the growing demand for intelligent and connected vehicle technologies. About L&T Technology Services Ltd L&T Technology Services (LTTS) is a global leader in engineering and technology services. A listed subsidiary of Larsen & Toubro (L&T), LTTS offers design, development, testing, and sustenance services across products and processes. Purposeful. Agile. Innovation. is how we drive growth across the Mobility, Sustainability and Tech segments. Our customer base includes 69 Fortune 500 companies and 57 top ER&D companies across industrial products, medical devices, transportation, telecom & hi-tech, and process industries. Headquartered in India, we have over 24,250 employees across 23 global design centers, 30 global sales offices, and 108 innovation labs, as of March 31, 2025. For additional information about L&T Technology Services log on to About thyssenkrupp Steering thyssenkrupp Steering is an internationally operating business unit of thyssenkrupp AG's Automotive Technology segment. The company develops and produces steering systems for more than 30 million vehicles annually. The company with its headquarters in Eschen, Liechtenstein is the center of the business unit employing more than 10.000 employees in 24 R&D and manufacturing locations around the globe. Based on steering technologies, it is driving forward current development projects, such as steer-by-wire and the further development of assistance systems as a precursor to autonomous driving. About thyssenkrupp Automotive Technology thyssenkrupp Automotive Technology is one of the leading suppliers and development partners of the international automotive industry. Its range of products and services includes high-tech components and systems, as well as automation solutions for vehicle manufacturing. Its product range includes chassis technologies, such as steering and damper systems and the assembly of axle systems, as well as powertrain components for conventional and alternative engines. thyssenkrupp Automotive Technology also develops assembly lines for body-in-white construction and produces lightweight car body components in series. The segment achieved sales of 7.5 billion euros in fiscal 2023/24. Furthermore, it specializes in the production of springs and stabilizers for various types of vehicles, as well as components and systems for tracked vehicle undercarriages. Automotive Technology has a global production network comprising more than 90 sites in Europe, Asia, and North and South America.
Globe and Mail
11-02-2025
- Business
- Globe and Mail
TurnKey Lender Recognized as a Leader and Star Performer in the Consumer Loan Origination Systems (LOS) PEAK Matrix Assessment 2024 by Everest Group
TurnKey Lender, a global provider of end-to-end loan origination and loan management software, has been named a Leader and Star Performer in the Consumer Loan Origination Systems (LOS) PEAK Matrix Assessment 2024 by Everest Group. This report evaluated 24 leading providers in the industry on a global level, ranking them based on their capabilities, market influence, and overall performance. 2024, A Challenging Year for Lenders This year has been challenging for lenders due to growing compliance requirements, evolving security threats, and AI and machine learning reshaping market dynamics. On top of that, increased competition and information overload have caused decision paralysis for lenders out there. In such a challenging environment, the PEAK Matrix Assessment offers valuable insights, presenting a list of providers to help identify the best loan origination solution (LOS) providers for any business. Key Insights: How the PEAK Matrix Ranks Providers The report goes beyond simple rankings, examining key trends in the consumer loan origination industry and evaluating the strengths and weaknesses of each provider. The assessment ranks and provides insights by classifying companies as Aspirants, Major Contenders, Star Performers, and Leaders, based on their ability to successfully deliver products and their market impact. The assessment also includes: - Interactions with leading technology providers - Client reference checks - Ongoing analysis of the open banking IT services market As Everest Group explains, the analysis focuses on how these technologies help banks handle profitability, regulatory compliance, and offer personalized services in a competitive financial tech landscape. What Makes TurnKey Lender a Leader TurnKey Lender stands out for its exceptional customer service, ease of use, and technological stack, which includes: - A no-code platform that allows seamless customization - AI-powered full-scale automation to speed up loan approvals - Integrated compliance tools tailored to local regulations - A strong emphasis on security, enhanced by machine learning. With these advanced features, TurnKey Lender comes out as a trusted choice for financial institutions looking for efficiency, customization, and security in a fast-changing market. As Dmytro Voronenko, CEO & co-founder of TurnKey Lender, commented: 'The need for an advanced LOS has evolved faster than ever in the last two years. With the rise in regulatory changes, the need for better risk management, and faster loan approvals, financial institutions need a strong and trustworthy partner that can help them grow faster and not fall behind. Given these factors, I'm proud to share that TurnKey Lender has been recognized as a Leader and Star Performer. We believe that true success comes from staying ahead of the curve and driving change. And we'll continue to lead that charge.' Media Contact Company Name: TurnKey Lender Contact Person: Michal Tomek Email: Send Email Country: Singapore Website:
