Wipro3D, the additive manufacturing (AM) business unit of Wipro Infrastructure Engineering has signed a Memorandum of Understanding (MoU) with IIT Bombay Racing team to jointly explore the utilization of additive manufacturing technology for the fabrication of complex parts in a Formula Student electric race car.

As per the MoU Wipro 3D will contribute technical expertise on additive manufacturing as well as the equipment and material for the fabrication of parts while IIT Bombay Racing will provide the designs for the parts to be manufactured.

Ajay Parikh, Vice President and Business Head, Wipro3D, said, ''Our partnership with IIT Bombay Racing is interesting and exciting. It is one of its kind in India. As per the MoU, critical metal components of this car will be 3D printed by us. We will fabricate multiple components.''

Formula Students (FS) is one of Europe's most established educational motorsport competition, run by the Institution of Mechanical Engineers (IMechE). Teams from 110 European universities participated in the four days long event and is attended by 8000 students and 2000 professors from different universities across the globe. With over 1.2 lakh members in 140 countries, IMechE has been at the heart of Mechanical Engineering since 1847.

Shares of the company declined Rs 0.9, or 0.34%, to trade at Rs 264.05. The total volume of shares traded was 38,941 at the BSE (2.59 p.m., Monday).