Latest news with #MathewVachaparampil
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.
Yahoo
13-02-2025
- Automotive
- Yahoo
Column: Caresoft looks inside Chinese vehicles and sees trouble for legacy automakers
DETROIT — To hear Caresoft Global Technologies executives translate what they have seen by tearing down, examining and analyzing the costs of cars from China, the Detroit 3 and many other global legacy automakers are in a brutal battle for survival. Caresoft is the teardown and product development benchmarking company that won a 2019 Automotive News PACE Award for its process of scanning vehicles and generating engineering and product development data. The company shows its clients — automakers' executives and engineering managers; suppliers; and others — in granular detail where they are falling behind their competitors. The news is bad for General Motors, Ford Motor Co. and Stellantis. Sign up for Automotive News breaking news alerts and be the first to know when big news happens. The Detroit 3 and other legacy automakers are being outsmarted and outhustled by a creative and hungry Chinese auto industry that works with the nation's communist government to bolster competitiveness. The Chinese government, through an organization called the China Automotive Technology & Research Center, works with its homegrown automakers on industrywide standards for common components, a practice that reduces complexity, lowers costs and boosts speed and efficiency by enabling greater parts-sharing among competing brands. Caresoft CEO Mathew Vachaparampil, in a Feb. 10 presentation to Automotive News editors and reporters, outlined how the Chinese auto industry is aiming its arsenal at three major global markets: Africa, South America and the 10 countries that make up the Association of Southeast Asian Nations. The China Passenger Car Association says 6.4 million vehicles made in China were shipped overseas in 2024, up 23 percent over 2023. Chery and BYD were the two fastest-growing brands in Australia last year. Geely was a top 10 brand in 2024 in many Southeast Asian nations. In South Africa, Chinese brands took 9 percent of the market in 2024, up from 2 percent five years earlier. Closer to home, in North America, MG — the former British brand now owned by SAIC — outsold Ford, Hyundai and Honda in Mexico last year. Vachaparampil believes Chinese automakers aren't in a hurry to push into the U.S. What is far from clear is if GM CEO Mary Barra, Ford CEO Jim Farley and Stellantis leadership can change their companies fast enough to get them in fighting shape for when the Chinese do get here. Farley acknowledged the challenge Detroit is facing while speaking at a financial conference Feb. 11, saying: 'What I'm always amazed at for the last three to four years with the Chinese is their speed. Everyone talks about how good they are, how cheap they are, but what they should be talking about is how fast they are.' The speed at which the Chinese auto industry is moving to incorporate new technologies, improve quality, reduce costs and roll out electric vehicles is leaving legacy automakers in the dust. 'What we see from the Chinese is an existential threat,' former GM manufacturing executive Terry Woychowski, Caresoft's president, said as he led a tour of Caresoft's U.S. headquarters in Livonia, Mich. 'I think it threatens the existence of some of these companies. I have no idea what will happen five years from now. But I do know what I see, and I can extrapolate. Things are going to change.' Before the pandemic, Caresoft's facility was a plant that churned out ice cream, milk and other dairy products. Now, it resembles a morgue for disemboweled automobiles. Body parts here, wiring harnesses, HVAC systems and brake parts there. Chassis on the automotive equivalent of gurneys await postmortem inspections. And thousands of other components, laid out on tables or affixed to wall displays, show precisely how and with what parts automakers assemble their vehicles. Caresoft engineers say the Detroit 3 have made some initial progress driving down costs, and they have found some evidence of smarter manufacturing. But the automakers aren't keeping pace with Chinese rivals. The engineers remove, examine and determine the cost of every item on a vehicle right down to the smallest plastic rivet. These small parts and how they attach often tell big stories. One Detroit automaker, for example, uses a dozen rare-earth magnets to hold the headliner in place on one of its vehicles. Woychowski says those magnets cost $1 each. Because the roof is made of aluminum, steel brackets have to be riveted in place for the magnets to stick. A Chinese automaker uses simple adhesive strips to hold the headliner in place. Cost: about a penny each. Another example: the brace that fits behind the instrument panel and bolts below the A-pillars in most vehicles. In Chinese EVs or a Tesla, that brace might be made of plastic or a combination of thin metal with plastic brackets. In a Detroit 3 EV, the brace is likely to be made of thick aluminum, a costly carryover from combustion vehicles. This, Woychowski says, is an example of legacy automakers moving too slowly. Vachaparampil, who travels to China about 10 times a year, says the government is encouraging the intense competition among automakers knowing that some will die. This winnowing process is expected to yield strong survivors that will eventually be globally competitive in all major markets. The drive to survive is one reason Chinese automakers are innovating and moving so quickly. Vachaparampil recalls a presentation the Caresoft team delivered in China to one of the country's major automakers. 'It was a Saturday morning, not a working day. There were 700 people in the auditorium,' Vachaparampil said. 'You tell me, would anybody in the U.S. do that? That's the hunger. You can feel the energy when you go to China. It's a different world.' It isn't just Detroit automakers stuck in the slow lane, Vachaparampil says. 'If I need to get a meeting with a German OEM, it takes me two months. In China, in one week you are done. It takes nine months to get a purchase order from a legacy OEM. In China, it takes one month.' Woychowski believes America's auto industry can rise to the Chinese challenge. He likens the situation to how the U.S. government worked with the industry to produce massive quantities of war material during World War II. Part of the fix involves Detroit automakers sharing more commodity parts, such as windshield wiper motors, brake rotors and sunroofs. Higher volume on common components lowers costs. Another part of the solution has to come from within each automaker. There has to be a willingness, Woychowski says, to learn from the Chinese, Tesla and other startups that are unencumbered by century-old methods of vehicle development. 'Leadership has to create that vision, has to put that inspiration forward and say, 'Folks, this is why we've got to change. I know it's uncomfortable. I know it's scary. I've got your back. Let's go do it.' '
