Latest news with #Caresoft
Forbes
3 days ago
- Automotive
- Forbes
China Poses ‘Existential Threat,' Engineering Company Executive Says
A Chinese-made BYD Shark hybrid truck on display outside a Society Automotive Analysts event on ... More Thursday in Auburn Hills, Michigan. Traditional automakers face an 'existential threat' from China's auto industry which is moving faster to design vehicles and reduce costs, an executive of an engineering services company said Thursday. 'They can change incredibly fast," said Terry J. Woychowski, president, automotive of Caresoft Global, a Michigan-based engineering services company. Caresoft analyzes vehicles for customers, including automakers and suppliers. Chinese automakers can develop new models in 14 to 18 months compared with 36 to 48 months for traditional automakers, Woychowski said. Such traditional auto companies are 'three to five years behind from a technology standpoint,' he said. Chinese automakers are using artificial intelligence extensively during design, according to a Caresoft slide that accompanied the talk. The executive spoke at a Society of Automotive Analysts event. It was held at an Auburn Hills, Michigan, regional office of Nanterre, France-based automotive supplier Forvia. Outside the Forvia building, Caresoft had two vehicles on display that it acquired from Chinese automaker BYD. One was an electric vehicle car. The other was a hybrid BYD Shark truck, which has an electric powertrain and a 1.5-liter engine to ensure the vehicle's battery remains charged. Caresoft has a technical center in Livonia, Michigan, a Detroit suburb, where it analyzes such vehicles. Woychowski is a former General Motors Co. executive who has spent 47 years in the auto industry. Chinese and traditional automakers are 'talking different languages,' Woychowski said. Established automakers emphasize the time a model can go from 0 to 60 mph and horsepower and torque, he said. Chinese automakers emphasize technology and connectivity, where vehicles can connect to the internet or other cars and trucks, the Caresoft executive said. In China, automakers and suppliers have a more cooperative relationship while traditional automakers are often more confrontational with suppliers, he said. BYD, the largest automaker in China has 'vertical integration we haven't seen since the days of Henry Ford,' including in-house battery production, Woychowski said. Traditional automakers need to revamp their operations, the executive said. 'We need to do it quickly,' he said. 'The only strategic advantage you can have at the end of the day is speed. We have work to do.' Thursday's event also had a series of roundtable discussions. The subject of China's auto industry came up again. 'We're going to have to change our mindset,' Scott Cieslak, chief commercial officer of Detroit Manufacturing Systems, said. 'We're playing from behind.' Chinese automakers are likely to produce vehicles in countries near the U.S., said Tu Le, founder of Sino Auto Insights, a consulting firm. 'The Chinese are surrounding us,' he said. In April, he said at an Automotive Press Association webinar that auto dealers from Canada attended this year's Auto Shanghai Show expressing interest in in Chinese vehicles. 'You don't think they'll be manufacturing north of the border?' he said Thursday at the SAA event. 'That's the reality.'
Yahoo
06-05-2025
- Automotive
- Yahoo
Caresoft Global Announces Strategic Partnership with KPIT to Drive Leadership in Technology and Cost Optimization Strategies for the Automotive Industry
Caresoft Global's engineering solutions business is to join KPIT, as Caresoft doubles down on technology optimization and cost reduction engineering for the automotive industry. LONDON, May 6, 2025 /PRNewswire/ -- Caresoft Global, a global leader in automotive benchmarking, Cost reduction strategies, and engineering solutions, today announced a strategic realignment of its business and a new chapter in its growth journey. The company will restructure its business into three business units: 1. Benchmarking, Technology Optimization & Cost Reduction Engineering, 2. Engineering Talent Solutions and 3. Engineering Solutions. (Left) Mathew Vachaparampil, CEO, Caresoft Global; (Right) Kishor Patil Co-founder, CEO & Managing Director of KPIT Technologies As part of this strategic realignment, KPIT Technologies, a global leader specializing in software-defined vehicles (SDV), embedded systems, and system integration, will acquire Caresoft Global's carved-out Engineering Solutions business, which is especially focused on off-highway and truck and bus segments globally. Caresoft Global will continue strengthening its Automotive vertical while partnering with KPIT to expand its benchmarking and cost reduction business into new areas such as software benchmarking, creating unique market differentiators, and jointly exploring downstream implementation opportunities. With China continuing to lead in vehicle electrification, AI, modular architectures, and aggressive cost leadership, Caresoft Global, with its strong market presence and deep relationships in China, will partner with KPIT in that region. Together, they aim to bring Chinese innovation to the rest of the world. "This is a defining moment for Caresoft," said Mathew Vachaparampil, CEO of Caresoft Global. "The strength of this partnership is greater than the sum of its parts. While our engineering services are moving into great hands, Caresoft and KPIT will now focus on delivering greater value to customers seeking to save costs in a world of rapid technological evolution and geopolitical complexities. We will jointly deliver more value to our automotive customers in terms of technology, cost, and speed to market." In a statement, Kishor Patil, Co-founder, CEO & Managing Director of KPIT Technologies, said, "We are excited to welcome Caresoft Global's Engineering Solutions business to the KPIT family. At KPIT, we are deepening relationships with trucks and off-highway makers and accelerating our foray into China. Also, OEMs across segments are looking for a partner who can bring more agility and cost efficiency by taking an integrated view of software, hardware, and manufacturing. With Caresoft Global's strong expertise, we have a strategic partnership which will bring unparalleled value to the mobility ecosystem."
Time of India
06-05-2025
- Automotive
- Time of India
KPIT acquires Caresoft Global's engineering solutions biz to strengthen mobility offerings
KPIT Technologies has announced the acquisition of the engineering solutions business of Caresoft Global , a firm known for its automotive benchmarking and cost-reduction-driven engineering capabilities . The move is aimed at supporting global original equipment manufacturers (OEMs) with integrated solutions spanning vehicle software , hardware design, and manufacturing. Caresoft Global will restructure into three independent business units: Benchmarking, Technology Optimisation & Cost Reduction Engineering; Engineering Talent Solutions; and Engineering Solutions. KPIT is acquiring the last of these, which includes operations across global markets. Commercial vehicle segment and China entry The acquisition is aligned with KPIT's strategic focus on the commercial vehicle segment, especially trucks and off-highway applications. The company will gain access to Caresoft's existing relationships and domain knowledge in this area. KPIT also expects the deal to support its expansion into China by leveraging Caresoft's longstanding presence and understanding of Chinese OEMs, suppliers, and New Energy Vehicle (NEV) players, the company said in a media release. A significant area of value creation is expected in cost reduction for vehicle development. Caresoft has a background in cost benchmarking and teardown of vehicle components across multiple models, which KPIT will now utilise to support OEMs in reducing development costs in passenger cars, trucks, and off-highway segments. Manufacturing engineering KPIT will add capabilities in manufacturing and industrial engineering, including plant layout planning and assembly line optimisation. These services aim to assist OEMs in making decisions earlier in the vehicle development process, integrating product and factory design. Kishor Patil, Co-founder, CEO and MD, KPIT Technologies, said, 'At KPIT, we are deepening relationships with trucks and off-highway makers and accelerating foray into China. Also, OEMs across segments are looking for a partner who can bring more agility and cost efficiency by taking an integrated view of software, hardware, and manufacturing. With Caresoft's strong expertise, we have a strategic partnership which will bring unparalleled value to the mobility ecosystem.' Mathew Vachaparampil, CEO, Caresoft Global, added, 'This milestone reflects more than growth. It honours our shared values with KPIT: being relentlessly customer-centric and caring deeply for our people. We will jointly deliver more value to our automotive customers in terms of technology, cost, and speed to market.'
Cision Canada
06-05-2025
- Automotive
- Cision Canada
Caresoft Global Announces Strategic Partnership with KPIT to Drive Leadership in Technology and Cost Optimization Strategies for the Automotive Industry
Caresoft Global's engineering solutions business is to join KPIT, as Caresoft doubles down on technology optimization and cost reduction engineering for the automotive industry. LONDON, May 6, 2025 /CNW/ -- Caresoft Global, a global leader in automotive benchmarking, Cost reduction strategies, and engineering solutions, today announced a strategic realignment of its business and a new chapter in its growth journey. The company will restructure its business into three business units: 1. Benchmarking, Technology Optimization & Cost Reduction Engineering, 2. Engineering Talent Solutions and 3. Engineering Solutions. As part of this strategic realignment, KPIT Technologies, a global leader specializing in software-defined vehicles (SDV), embedded systems, and system integration, will acquire Caresoft Global's carved-out Engineering Solutions business, which is especially focused on off-highway and truck and bus segments globally. Caresoft Global will continue strengthening its Automotive vertical while partnering with KPIT to expand its benchmarking and cost reduction business into new areas such as software benchmarking, creating unique market differentiators, and jointly exploring downstream implementation opportunities. With China continuing to lead in vehicle electrification, AI, modular architectures, and aggressive cost leadership, Caresoft Global, with its strong market presence and deep relationships in China, will partner with KPIT in that region. Together, they aim to bring Chinese innovation to the rest of the world. " This is a defining moment for Caresoft," said Mathew Vachaparampil, CEO of Caresoft Global."The strength of this partnership is greater than the sum of its parts. While our engineering services are moving into great hands, Caresoft and KPIT will now focus on delivering greater value to customers seeking to save costs in a world of rapid technological evolution and geopolitical complexities. We will jointly deliver more value to our automotive customers in terms of technology, cost, and speed to market." In a statement, Kishor Patil, Co-founder, CEO & Managing Director of KPIT Technologies, said, " We are excited to welcome Caresoft Global's Engineering Solutions business to the KPIT family. At KPIT, we are deepening relationships with trucks and off-highway makers and accelerating our foray into China. Also, OEMs across segments are looking for a partner who can bring more agility and cost efficiency by taking an integrated view of software, hardware, and manufacturing. With Caresoft Global's strong expertise, we have a strategic partnership which will bring unparalleled value to the mobility ecosystem." Continuity of Leadership Key leaders from Caresoft Global's Engineering Solutions division, including Caresoft veteran and President of Engineering, Kalyan Nagarajan, and his team, will transition to KPIT to ensure leadership continuity and sustained growth. "I am confident that with strong synergistic capabilities, shared values, a customer-centric approach, and KPIT's laser-focused execution, we are well-positioned to deliver more value to our existing off-highway and truck & bus customers," said Kalyan. "We are also now set up with the depth and scale to expand our vehicle engineering, cost transformation, and manufacturing solutions." About Caresoft Global Caresoft Global is a leader in automotive benchmarking, technology optimization, cost reduction engineering strategies, and engineering solutions. The company helps automotive OEMs and suppliers optimize their current and future programs' design, cost, and performance. Headquartered in the USA, with a strong global presence in Europe, Japan, China, India, and the UAE, Caresoft Global is trusted by world's leading automotive companies. KPIT Technologies is a global partner to the automotive and mobility ecosystem, making software-defined vehicles a reality. With around 13,000 "automobelievers" specializing in embedded software, AI, and digital solutions, KPIT is helping the mobility industry leapfrog toward a cleaner, smarter, and safer future.
Business Upturn
06-05-2025
- Automotive
- Business Upturn
KPIT Technologies acquires Caresoft's engineering solutions business to boost global mobility segment
By Aditya Bhagchandani Published on May 6, 2025, 10:24 IST KPIT Technologies Limited has announced the acquisition of Caresoft Global's Engineering Solutions Business in a strategic move to deepen its presence in the commercial vehicle segment and accelerate its entry into the Chinese automotive market. The acquisition is aimed at delivering enhanced cost optimization and innovative engineering solutions for trucks, off-highway vehicles, and the broader mobility ecosystem. Caresoft's expertise in automotive benchmarking, cost reduction, and manufacturing solutions will strengthen KPIT's capability to offer end-to-end vehicle development support. The deal allows KPIT to expand its footprint in China through Caresoft's existing relationships with local OEMs and suppliers. Additionally, KPIT will leverage Caresoft's engineering intelligence to support OEMs in reducing full vehicle costs through integrated hardware, software, and manufacturing design optimization. The acquisition also adds manufacturing engineering capabilities such as plant layout planning and assembly line optimization to KPIT's portfolio, enhancing its support for clients in delivering smarter, more cost-effective production strategies. KPIT's leadership emphasized the alignment of the deal with their long-term vision of helping global OEMs drive speed and innovation in the face of shifting trade dynamics and supply chain disruptions. Kishor Patil, CEO & MD of KPIT Technologies, stated that this partnership brings unmatched value to the mobility ecosystem and reflects their commitment to creating integrated solutions for OEMs worldwide. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
