Tata Elxsi, a global leader in design and technology services, and Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, announced today their collaboration on a state-of-the-art design center in Bangalore that will develop targeted solutions for electric vehicles (EV). The new Next Generation EV Innovation Center (NEVIC) was opened in January of this year.
Electric Vehicles have become foundational to the new mobility paradigm across the globe. Certain segments, such as two-wheel and light EVs are finding rapid adoption, especially in emerging markets such as India where these segments fit across multiple use cases. To enable this adoption, solutions that can offer key building blocks for scalability and re-usability while delivering reliable performance and offering room for technology customization are critical. These solutions will support creation of quick-tomarket solutions and a wide portfolio of products and variants for OEMs and suppliers.
Tata Elxsi and Renesas will bring together their deep domain expertise, intellectual property, and assets to the NEVIC and collaborate to create reference designs and solution accelerators for critical EV subsystems like Battery Management Systems and Motor Control Units, among others. With the electric vehicle market, especially the Light EV segment, at an inflection point, the companies aim to provide key enablers for the market, starting with India and expanding globally to optimize development time and effort.
"We are excited to continue our collaboration with Renesas, a market leader in semiconductors for integrated, sophisticated and reliable solutions for the Electrification domain," said Shaju S, Vice President and Head of Transportation, Tata Elxsi. "Electric vehicles are revolutionizing not only the traditional automotive market but also the mobility and energy ecosystems as a whole. Our customers will undoubtedly benefit from the proven chipsets and support system of Renesas as it will definitely help us in developing cutting edge and futuristic solutions which the industry demands. Markets like India are especially sensitive to cost, and these solutions will help cut down product development risks, costs and greatly improve time-to-market. In addition, we also bring industry-proven solutions and services for productization, testing, calibration and downstream integration, which will benefit customers in rapid NPI and time-to-market. These include eMobility HILS for validation and AUTOSAR suite 4.2.2 and 4.3 for software integration."
'Renesas is pleased to work with Tata Elxsi, a proven leader of design and technology services for the automotive industry," said Taizo Hayashi, Vice President of Automotive New Business Creation Division, Renesas.
"This collaboration demonstrates our commitment to support the 'Make in India' government initiative and we look forward to generating future business growth in India. The NEVIC Solution Center will be a turning point as OEMs and Tier 1s will now have access to secure system solutions and can leverage Tata Elxsi's Electrification expertise for use case specific customizations."
Through NEVIC's product and service offerings, Tata Elxsi and Renesas will support the acceleration of eMobility, particularly the two-wheel and light EV segments, assisting clients in overcoming time to market and technology complexity.
Shares of Tata Elxsi Limited was last trading in BSE at Rs. 6569.35 as compared to the previous close of Rs. 6431.55. The total number of shares traded during the day was 13542 in over 3669 trades.
The stock hit an intraday high of Rs. 6627.50 and intraday low of 6325.75. The net turnover during the day was Rs. 88240167.00.