Infosys shares jump 1% higher on strategic partnership with Swedish electric car brand Polestar

Infosys has entered into a strategic collaboration with Polestar, 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. The company will also leverage in-tech, its latest acquisition in the R&D space, to complement the engagement.

The company 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 the company’s strategic assets like engineering labs, design studio, and Infosys Living Labs to enhance innovation.

In the latest quarterly results ended June 2024, the total revenue for the company stood at ₹33283 crore. The Net Profit of the company registered a slight decline of -3.16% to ₹5768 crore from ₹5956 crore in a year ago preiod. A decline of ₹8885 crore was observed in the operating profit in the quarter ended June 2024 from ₹8935 crore on QoQ basis.

Infosys Ltd is a global leader in next-generation digital services and consulting. With over four decades of experience in managing the systems and workings of global enterprises, the company expertly steer clients in many countries as they navigate their digital transformation powered by cloud and AI. The company is a leading provider of consulting, technology, outsourcing and next-generation digital services, enabling clients to execute strategies for their digital transformation.