Autonomous Vehicle News
July 13, 2023 08:52 am | Updated 09:09 am IST - BengaluruHCLTech has signed a definitive agreement to acquire a 100% equity stake in ASAP Group, an automotive engineering services provider, headquartered in Ingolstadt, Germany, for a total enterprise valuation of €251.1 million ( around ₹2,300 crore). ASAP is focused on future-oriented automotive technologies in areas such as autonomous driving, e-mobility and connectivity and its services portfolio comprises electrics/electronics, software, consulting, service testing and validation and vehicle development. “Core engineering is at the heart of HCLTech’s DNA and it truly differentiates our services portfolio. ASAP has developed some exciting capabilities in automotive engineering, and we share their vision for the future of mobility. This agreement will enable us to scale these capabilities and innovations across our global network,” said Hari Sadarahalli, Corporate Vice President, Engineering and R&D Services, HCLTech.