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KPIT Technologies Ltd Regulatory Filings 2019
59234_rns_2019-09-26_7a5a2a14-203d-408b-9427-2f24495b4f5b.pdf
Regulatory Filings
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KP 11·
September 26, 2019
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001.
Scrip ID: KPITTECH Scrip Code: 542651
Kind Attn: The Manager, Department of Corporate Services National Stock Exchange of India Ltd.,
Exchange Plaza, C/1, G Block, Bandra - Kurla Complex, Bandra (E), Mumbai - 400051.
Symbol: KPITTECH Series: EQ
Kind Attn: The Manager, Listing Department
Subject: - Press Release: GETS GLOBAL AND KPIT TECHNOLOGIES PTE. LI MITED, to establish an e- mobility centre to address regional growth opportunit ies.
Dear Sir / Madam,
Please find enclosed press release - GETS GLOBAL AND KPIT TECHNOLOGIES PTE. LI MITED, to establish an e- mobility centre to address regional growth opportunities.
Request you to please take the same on your records and fu rt her dissemination.
Thanking you.
Yours faithf ully,
Encl.:- As mentioned above.
PRESS RELEASE
FOR IMMEDIATE RELEASE 26 SEPTEMBER 2019
GETS GLOBAL AND KPIT TECHNOLOGIES PTE. LIMITED TO ESTABLISH AN E-MOBILITY CENTRE TO ADDRESS REGIONAL GROWTH OPPORTUNITIES
PUTRAJAYA, 26 SEPTEMBER 2019 - GETS Global Berhad and KPIT Technologies Pte. Limited (A Global Technology partner for the Mobility Industry) have agreed to establish, a Special Purpose Vehicle (SPV) - an E-Mobility Centre to pursue selective opportunities in the Malaysian and other ASEAN countries.
The SPV Company is to primarily strengthen, promote and develop sustainable electro mobility projects in support of green development by developing Electric Vehicles for commercialization.
GETS Global and KPIT Technologies have executed a Memorandum of Understanding (MoU) dated 2 April 2019 to govern and regulate their relationship.
On 26 September 2019, GETS Global has entered into a Shareholding agreement with KPIT Technologies Pte. Limited whereby the parties will be shareholders of a new 'Special Purpose Vehicle' known as GETS E-Mobility Solutions Sdn Bhd (GEMS), with GETS Global to hold a majority stake of 80 percent.
KPIT with more than two decades of experience in building technology solutions for Mobility industry specially in the areas of Vehicle Electrification, Autonomous Driving and Connected Vehicles will bring deep technical know-how to this E-Mobility Centre.
GEMS is established with the primary objective of carrying out the projects within the region that includes all the major ASEAN countries.
According to Managing Director of GETS Global, Datuk Che Azizuddin Che Ismail, the JV is expected to open up market opportunities starting from ASEAN prime mover smart cities such as Kuala Lumpur/Putrajaya, Jakarta and Bangkok, towards becoming global smart cities.
'The recent spate of technological advancements and innovations driven by the fourth industrial revolution has really changed the mobility industries. These major technological developments, including big data, artificial intelligence (Al), the Internet of Things (lo T) and the emergence of new, compact forms of energy, have thrown up a range of new mobility options".
"Through GEMS, we will strengthen, promote and develop sustainable electro mobility projects in support of green sustainable mobility".
"KPIT and GETS will combine the resources and expertise to pursue business opportunities in Malaysia and international markets".
ABOUT GETS GLOBAL
GETS Global, is a Malaysia-based investment holding company. The Company, together with its subsidiaries, operates in four business segments, namely Investment holding, Express bus services, City bus services and Sales of new and used buses and repair and maintenance services. The Company's major subsidiaries include Konsortium Bas Ekspres Semenanjung (M) Sdn. Bhd., which is engaged in express bus services and investment holding and Super Coach Assembly Plant Sdn. Bhd., which undertake the assembly and fabrication of bodies for buses and the provision of related maintenance services. Pengangkutan Awam Putrajaya Travel and Tours (PAPTT) engaged in city bus operation, property management (Park & Ride complex and car parks), advertising (mobile and outdoor) and travel & tours.
ABOUT KPIT TECHNOLOGIES
KPIT is a global technology company with software solutions that will help mobility leapfrog towards autonomous, clean, smart and connected future. With 6500+ Automobelievers across the globe, specializing in embedded software, Al & Digital solutions, KPIT enables customers accelerate implementation of next generation mobility technologies. With development centres in Europe, USA, Japan, China, Thailand and India - KPIT works with leaders in mobility and is present where the ecosystem is transforming .
Media contact :
Azmir Redza Ahmad I [email protected] I +6019 239 6126 Azrul Amila Amir/ [email protected] / +6012 296 0202