Infosys and Polestar Enter Strategic Collaboration by opening Technology Hub in Bengaluru, India

Rhea-AI Summary

Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY) has announced a strategic collaboration with Polestar (NASDAQ: PSNY), the Swedish electric performance car brand. Infosys will establish a global technology hub for Polestar at its development center in Bengaluru, India. This hub will focus on:

• EV software development and validation
• Infotainment, ADAS, and telematics
• Product management and customer engagement
• Cloud-native development and data engineering

Infosys will leverage its strategic assets, including engineering labs, design studio, and Living Labs, to enhance innovation. The collaboration aims to deliver in-car infotainment, Software and Electrical / Electronics engineering, user experience, and cloud-powered digital services for Polestar.

Positive

• Establishment of a global technology hub for Polestar in Bengaluru, India
• Expansion into the growing electric vehicle (EV) market
• Leveraging Infosys' strategic assets and expertise in automotive engineering
• Potential for long-term revenue growth through the partnership

Negative

• None.

Insights

Tech Expert

This collaboration between Infosys and Polestar marks a significant step in the EV industry's technological advancement. The establishment of a global technology hub in Bengaluru leverages India's software expertise to drive innovation in important areas like infotainment, ADAS and telematics. This move aligns with the growing trend of tech-automotive partnerships, positioning both companies at the forefront of EV software development.

The partnership's focus on cloud-native development and data engineering suggests a push towards more connected and intelligent vehicles. Infosys' strategic assets, including engineering labs and Living Labs, could accelerate Polestar's product development cycles and enhance their direct-to-consumer digital services. This collaboration has the potential to significantly impact Polestar's competitiveness in the rapidly evolving EV market, potentially leading to more advanced features and improved user experiences in future Polestar vehicles.

Market Research Analyst

This strategic collaboration could have substantial implications for both Infosys and Polestar in their respective markets. For Infosys, it represents a significant expansion in the automotive sector, particularly in the high-growth EV segment. This move could potentially open doors to similar partnerships with other EV manufacturers, strengthening Infosys' position in the automotive tech space.

For Polestar, partnering with a tech giant like Infosys could accelerate their digital transformation and product development capabilities. This could lead to faster time-to-market for new features and models, potentially boosting Polestar's competitiveness against established EV players like Tesla. The focus on direct-to-consumer digital services aligns with current automotive trends and could enhance customer engagement and loyalty. Investors should watch for improvements in Polestar's product offerings and any positive impact on sales figures or market share in the coming years as a result of this collaboration.

BENGALURU, India, Sept. 25, 2024 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a strategic collaboration with Polestar (NASDAQ: PSNY), the Swedish electric performance car brand. This engagement aims to create a base for Polestar's development of in-car infotainment, Software and Electrical / Electronics (SW&EE) engineering, user experience (UX), and cloud-powered digital services. Infosys will also leverage in-tech, its latest acquisition in the R&D space, to complement the engagement.

Infosys will establish a global technology hub for Polestar at its development center in Bengaluru, India. This hub aims to deliver electric vehicle (EV) software development and validation across many domains including infotainment, Advanced Driver Assistance Systems (ADAS), and telematics. It also supports Polestar's product management, customer engagement, corporate solutions, and accelerates direct-to-consumer digital services through cloud-native development, testing, and data engineering. Polestar will benefit from leveraging Infosys' strategic assets like engineering labs, design studio, and Infosys Living Labs to enhance innovation.

Maria Lexe, Head of Digital at Polestar, said, "Polestar is excited to partner with Infosys to establish a tech hub in India. Infosys has a successful background with similar operations, and we are confident in their ability to lead this tech hub in order to generate IT efficiencies and empower innovation."

Sven Bauer, Head of Software at Polestar, said, "Polestar is starting a new chapter in the company's global setup with our partner Infosys in Bengaluru. We look forward to building automotive competence in the Polestar Tech Hub to support our growing vehicle portfolio and new model launches."

Jasmeet Singh, Executive Vice President and Global Head of Manufacturing, Infosys, said, "We are excited to announce our partnership with Polestar for their strategic India Tech Hub initiative. We believe that this collaboration will enhance Polestar's digital roadmap by leveraging India's well-regarded software and automotive engineering talent pool. Building on Infosys' extensive experience in automotive engineering, digital transformation, and global delivery leadership, we aim to bring the infrastructure and innovation to co-create next generation EV capabilities. We will work closely with Polestar's global design and development hubs to set new standards in next-gen mobility."

About Polestar

Polestar (NASDAQ: PSNY) is the Swedish electric performance car brand determined to improve society by using design and technology to accelerate the shift to sustainable mobility. Headquartered in Gothenburg, Sweden, its cars are available online in 27 markets globally across North America, Europe and Asia Pacific.

Polestar plans to have a line-up of five performance EVs by 2026. Polestar 2, the electric performance fastback, launched in 2019. Polestar 3, the SUV for the electric age, launched in late 2022. Polestar 4, the SUV coupé transformed, is launching in phases through 2023 and into 2024. Polestar 5, an electric four-door GT and Polestar 6, an electric roadster, are coming soon.

The Polestar 0 project supports the company's ambitious goal of creating a truly climate-neutral production car by 2030. The research initiative also aims to create a sense of urgency to act on the climate crisis, by challenging employees, suppliers and the wider automotive industry, to drive towards zero.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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SOURCE Infosys

FAQ

What is the purpose of Infosys and Polestar's collaboration announced on September 25, 2024?

The collaboration aims to create a base for Polestar's development of in-car infotainment, Software and Electrical / Electronics engineering, user experience, and cloud-powered digital services. Infosys will establish a global technology hub for Polestar in Bengaluru, India, to deliver EV software development and validation across various domains.

How will Infosys (INFY) support Polestar's operations through this partnership?

Infosys will support Polestar by establishing a tech hub in Bengaluru, India, focusing on EV software development, infotainment, ADAS, telematics, product management, customer engagement, and cloud-native development. Infosys will also leverage its strategic assets like engineering labs, design studio, and Living Labs to enhance innovation for Polestar.

What are the key areas of focus for the Infosys-Polestar technology hub in Bengaluru?

The technology hub will focus on electric vehicle software development and validation, including infotainment, Advanced Driver Assistance Systems (ADAS), telematics, product management, customer engagement, corporate solutions, and direct-to-consumer digital services through cloud-native development, testing, and data engineering.

How does this collaboration benefit Infosys (INFY) in the automotive sector?

This collaboration enhances Infosys' position in the automotive sector, particularly in the growing electric vehicle market. It allows Infosys to leverage its expertise in automotive engineering and digital transformation, potentially leading to long-term revenue growth and expanded opportunities in the EV industry.