FORVIA and L&T Technology Services Agree Strategic Partnership on Ultra-low Emissions Engineering in Germany and India
2024年5月2日 - 10:00PM
ビジネスワイヤ(英語)
L&T Technology Services (BSE: 540115, NSE: LTTS), a leading
global player in Engineering and R&D services, and FORVIA, 7th
global automotive supplier, signed a strategic partnership – which
represents a contract of approximately €45 million - on Engineering
development activities for the benefit of its Clean Mobility
division.
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As part of this five-year partnership, approximately 300
engineers from FORVIA’s Augsburg (Germany) and Bangalore (India)
sites, have transferred to LTTS. This represents a 95% transfer
success rate securing the skills of these teams who will develop
internal combustion engine related engineering activities from
within LTTS.
With LTTS at the helm, these engineers continue their activities
for FORVIA from their current locations, guaranteeing seamless
collaboration and ongoing support for end customers across Digital
PLM initiatives. FORVIA is addressing the evolving automotive
landscape on ultra-low emissions while ensuring high-quality
engineering support and providing opportunities for maintaining
employment.
The partnership will deliver engineering services for FORVIA.
Additionally, not only will it secure the career path of
transferred employees, but it will also enrich their skillsets with
exposure to LTTS’ extensive portfolio. A key part of the agreement
is the capacity given by FORVIA to LTTS to train and reskill these
engineers who, supported by the LTTS Global Engineering Academy,
will be repositioned over time to work in other fields within the
LTTS commercial network.
“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," stated Amit Chadha,
CEO and Managing Director of L&T Technology Services. “This
groundbreaking partnership serves as a testament to our
sophisticated capabilities, enabling FORVIA to maintain and
strengthen its industry leadership.”
"L&T Technology Services is a company that shares our
commitment to innovation and quality. 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. As one of the world’s leading engineering service
providers, LTTS is the ideal partner to ensure FORVIA secures key
competences in the energy transition context,” said Patrick
Koller, CEO of FORVIA.
About FORVIA, whose mission is: “We pioneer technology for
mobility experiences that matter to people”.
FORVIA, 7th global automotive technology supplier, comprises the
complementary technology and industrial strengths of Faurecia and
HELLA. With around 260 industrial sites and 78 R&D centers,
over 150,000 people, including more than 15,000 R&D engineers
across 40+ countries, FORVIA provides a unique and comprehensive
approach to the automotive challenges of today and tomorrow.
Composed of 6 business groups and a strong IP portfolio of over
13,000 patents, FORVIA is focused on becoming the preferred
innovation and integration partner for OEMS worldwide. In 2023, the
Group achieved a consolidated revenue of 27.25 billion euros.
FORVIA SE is listed on the Euronext Paris market under the FRVIA
mnemonic code and is a component of the CAC Next 20 and CAC SBT
1.5° indices. FORVIA aims to be a change maker committed to
foreseeing and making the mobility transformation happen.
www.forvia.com
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed
subsidiary of Larsen & Toubro Limited focused on Engineering
and R&D (ER&D) services. We offer consultancy, design,
development and testing services across the product and process
development life cycle. Our customer base includes 69 Fortune 500
companies and 57 of the world’s top ER&D companies, across
industrial products, medical devices, transportation, telecom &
hi-tech, and the process industries. Headquartered in India, we
have over 23,800 employees spread across 22 global design centers,
28 global sales offices and 104 innovation labs as of March 31,
2024. For more information, please visit https://www.LTTS.com/
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version on businesswire.com: https://www.businesswire.com/news/home/20240501871231/en/
Media Contact: Aniruddha Basu L&T Technology Services
Limited E: Aniruddha.Basu@Ltts.com
Anindita Sarkar L&T Technology Services Limited E:
Anindita.Sarkar@Ltts.com