L&T Technology Services inks €45 million partnership deal with FORVIA for clean mobility engineering

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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L&T Technology Services Ltd on Thursday, May 2, said it has signed a €45-million partnership deal with automotive supplier FORVIA for engineering development activities for the latter’s clean mobility segment.

Under this five-year partnership, around 300 engineers from FORVIA’s Augsburg (Germany) and Bengaluru (India) sites have seamlessly transitioned to L&T Technology Services (LTTS) marking a 95% transfer success rate, the company said in a stock exchange filing.

These skilled teams will continue to drive internal combustion engine-related engineering endeavours within LTTS while maintaining their operational bases, ensuring uninterrupted collaboration and support for end customers across Digital PLM initiatives, the leading engineering and R&D services provider informed the bourses.

L&T Technology Services said that the collaboration focuses on engineering development activities within FORVIA’s clean mobility division.

The partnership not only secures the career trajectory of these professionals but also empowers them with exposure to LTTS’ extensive portfolio, enriching their skill sets for future endeavours, it said.  Central to the agreement is FORVIA’s provision of capacity to LTTS for the training and reskilling of these engineers.

Leveraging the resources of the LTTS Global Engineering Academy, these professionals will undergo strategic repositioning over time, aligning with diverse fields within LTTS’ expansive commercial network.

This alliance underscores the commitment of both L&T Technology Services and FORVIA to driving innovation and sustainability in the automotive sector while nurturing talent and fostering collaborative growth opportunities on a global scale.

“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,” Amit Chadha, MD and CEO of L&T Technology Services, said.

Shares of L&T Technology Services were trading 0.45% lower at ₹ 4,619.5 apiece at 11 am.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow