PITTSBURGH - Ansys (NASDAQ: NASDAQ:ANSS) has introduced ConceptEV, a new software-as-a-service (SaaS) offering aimed at optimizing the design of electric vehicle (EV) powertrains. This cloud-native solution is designed to improve EV driving range and battery charge times, reduce development costs, and accelerate time-to-market by facilitating collaborative system and component design engineering.
ConceptEV enables engineers to work on EV powertrain concept designs through a shared system model connected to requirements. This system-level design approach is critical to increasing the efficiency and driving range of EVs while also reducing costs. By allowing for simultaneous optimization of powertrain architectures and components, including the battery, inverter, motor, and transmission, ConceptEV seeks to streamline the early design process.
The tool is described as a first-of-its-kind, accessible solution capable of linking component designs to system-level requirements. It allows for easy implementation and traceability of specification and component design changes, enabling users to rapidly evaluate system trade-offs for the optimal powertrain design. The model-based approach also reduces errors and informs smarter decisions earlier in the development process.
John Reeve, technical director at FluxSys Ltd., endorsed ConceptEV, stating that focusing on the complete powertrain rather than individual subsystems will increase productivity and accelerate innovation. Shane Emswiler, senior vice president of products at Ansys, emphasized that ConceptEV is flipping the script on traditional EV powertrain workflows by fostering an open environment for cross-functional teams to collaborate and share knowledge.
Ansys has a track record of more than 50 years in enabling innovation through simulation software across various industries. With the launch of ConceptEV, Ansys continues its mission to power human advancement by providing tools that close the gap between design and reality. This announcement is based on a press release statement from Ansys.
InvestingPro Insights
As Ansys (NASDAQ: ANSS) unveils its latest SaaS offering, ConceptEV, to optimize electric vehicle powertrain designs, it's worth noting the company's current financial health and market position. Ansys boasts an impressive gross profit margin of 91.54% for the last twelve months as of Q1 2024, reflecting the company's ability to maintain profitability in its operations. This is a key indicator of Ansys's efficiency in managing its production costs and pricing strategies, which is crucial for sustaining innovation and investment in new technologies like ConceptEV.
InvestingPro data shows Ansys with a market capitalization of $28.38 billion, underscoring its substantial presence in the simulation software market. However, the company is trading at a high earnings multiple, with a P/E ratio of 65.02, suggesting that investors may have high expectations for future earnings growth, which could be bolstered by the success of new products such as ConceptEV. Additionally, Ansys's liquid assets exceed its short-term obligations, indicating a strong liquidity position that could support ongoing research and development efforts.
For readers looking to delve deeper into Ansys's financial metrics and potential investment opportunities, there are 12 additional InvestingPro Tips available, including insights on earnings revisions and stock volatility. These tips can provide a more comprehensive understanding of Ansys's financial outlook and how the introduction of ConceptEV might influence the company's future performance. To explore these tips, visit https://www.investing.com/pro/ANSS, and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.