HCL Technologies, Volvo Cars collaborate to drive engineering transformation

Shares of HCL Technologies closed 1.13% lower on Thursday at ₹1,702 apiece on the NSE. The company announced a strategic partnership with Volvo Cars for engineering services.

HCL Technologies has been chosen by Volvo Cars as one of its strategic suppliers for engineering services. Volvo Cars has been at the forefront of automotive innovation for many years and has set out to shape the future of mobility with strong ambitions on sustainable growth, as it seeks to offer clients the freedom to move in a personal, sustainable and safe way.

Drawing on an established relationship in digital and PLM services, this agreement significantly expands the company’s role to cover the delivery of end-to-end engineering solutions at scale. The strategic collaboration will see the company support Volvo Cars’ engineering future ambitions from its automotive Centre of Excellence in Gothenburg, as well as its global offshore and nearshore delivery centres

Earlier, the company announced a partnership with Standard Insurance Company (The Standard), a leading provider of financial protection products and services for employers and individuals. This expanded partnership with The Standard will deliver AI-driven infrastructure and application services to boost efficiency, support rapid growth and enhance customer experience.

This collaboration will also accelerate The Standard’s shift to an IT products and services-based operating model, enabling greater agility, customer value and progress toward the company’s long-term digital transformation goals.

The company’s GenAI-led service transformation platform, AI Force, digital engineering and cloud services will support The Standard’s focus on exceptional customer service in the delivery of workplace benefits. This transformation will be further driven by a newly formed Joint Innovation Council and Digital Experience Office, reinforcing The Standard’s commitment to innovation and delivering scalable, user-centric experiences.

The March 2025 quarter revenue stood at ₹13432 crore, up 11.22% as compared to ₹12077 crore during the corresponding quarter last year. A modest increase of 10.21% in the Net Profit was reported ₹2763 crore to ₹3045 crore. Operating profit surged to ₹4695 crore from the corresponding previous quarter of ₹4344 crore.