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L&T Technology Services has signed a contract with automotive supplier Forvia. The contract of engineering development activities is approximately valued at €45 million for its clean mobility division.
According to the stock exchange filing, about 300 engineers from Forvia’s Augsburg (Germany) and Bangalore (India) sites, have been moved to LTTS as part of the 5-year partnership.
“Our collaboration with Forvia underscores our proficiency in the transportation and automotive industry, while simultaneously reinforcing our dedication to spearheading progress in the field of traditional engine technologies and new-age digital transformation for ultra-low emissions and clean mobility,” said, Amit Chadha, CEO and Managing Director of L&T Technology Services.
“This strategic partnership shows how we are committed to protect our leadership in the ultra-low emission business and employee interests in a changing environment. LTTS is the ideal partner to ensure Forvia secures key competencies in the energy transition context,” said, Patrick Koller, CEO of Forvia.
LTTS stock traded flat ₹4,640 on the NSE as of 10.24 am.
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