Pinewood Technologies shares jump as wins contract with Volkswagen
Pinewood Technologies PLC on Tuesday said has won a five-year contract with car maker Volkswagen AG in Japan.
Pinewood is a Birmingham, England-based provider of retailing software for the automotive sector.
Pinewood Technologies shares closed up 11% to 356.00 pence in London on Tuesday.
The contact aims to implement Pinewood’s Automotive Intelligence software platform into all 350 Volkswagen and Audi dealerships in Japan.
Volkswagen is a Wolfsburg, Germany-based manufacturer of automobiles and Commercial vehicles.
The company added that this partnership aligns with its strategic aim to work with Volkswagen Japan, as outlined during its recent capital markets day.
Pinewood said it expects that both the rollout and revenue generation will begin in the first half of 2026.
Chief Executive Officer Bill Berman said: ‘We are thrilled to welcome Volkswagen Group Japan as a customer and key partner. We look forward to working together and we believe that our innovative Automotive Intelligence Platform will help Volkswagen Group Japan drive growth and achieve significant operating efficiencies through their Volkswagen and Audi dealership network.’
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