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L&T Technology Services and FORVIA, a leading automotive supplier, have formed a strategic partnership worth approximately €45 million. This collaboration aims to enhance the Clean Mobility division through engineering development efforts.
Date: May 9, 2024
Vadodara- L&T Technology Services, a prominent global provider of Engineering and R&D services, has entered into a strategic partnership with FORVIA, the 7th largest automotive supplier worldwide. This partnership, valued at approximately €45 million (Rs 400 crore), focuses on engineering development activities to enhance its Clean Mobility division.
Under this five-year partnership, around 300 engineers from FORVIA's locations in Augsburg, Germany, and Bangalore, India, have transitioned to LTTS. Achieving a remarkable 95% transfer success rate, this move ensures the retention of the expertise of these teams, who will now spearhead internal combustion engine related engineering activities within LTTS.
In LTTS's leadership, these engineers remain dedicated to FORVIA's initiatives from their existing bases, ensuring smooth collaboration and sustained assistance to end customers in Digital PLM initiatives. FORVIA's focus on ultra-low emissions in the automotive sector is coupled with a commitment to high-quality engineering support, safeguarding employment opportunities for the workforce.
The partnership will provide engineering services for FORVIA while also ensuring the career progression of transferred employees. Moreover, it will enhance their skillsets through exposure to LTTS’ extensive portfolio. A pivotal aspect of the agreement is FORVIA granting LTTS the capacity to train and reskill these engineers. Supported by the LTTS Global Engineering Academy, they will transition over time to work in various fields within LTTS's commercial network.
Mr.Amit Chadha, CEO and Managing Director of L&T Technology Services, said, 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,". This ground breaking partnership serves as a testament to our sophisticated capabilities, enabling FORVIA to maintain and strengthen its industry leadership.”
Mr.Patrick Koller, CEO of FORVIA , said, 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.
