LTTS wins $48 million deal with European auto parts supplier, Forvia
Engineering services company, L&T Technology Services (LTTS) on Thursday said it has won a contract worth around €45 million (about $48 million at current exchange rate) from European automotive parts manufacturer and supplier Forvia for engineering development activities for its clean mobility division
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Bengaluru, 2 May: Engineering services company, L&T Technology Services (LTTS) on Thursday said it has won a contract worth around €45 million (about $48 million at current exchange rate) from European automotive parts manufacturer and supplier Forvia for engineering development activities for its clean mobility division.
The company said in an exchange filing that as part of this five-year partnership, around 300 engineers from FORVIA’s Augsburg (Germany) and Bangalore (India) sites, have transferred to LTTS. These teams will develop internal combustion engine related engineering activities from within LTTS.
FORVIA is working on ultra-low emissions in the automotive space while ensuring high-quality engineering support and providing opportunities for maintaining employment.
Apart from delivering engineering services for FORVIA, LTTS will also secure the career path of transferred employees through enriching 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, the company 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 groundbreaking partnership serves as a testament to our sophisticated capabilities, enabling FORVIA to maintain and strengthen its industry leadership,” Amit Chadha, CEO and Managing Director of L&T Technology Services said.
Commenting on the partnership, Patrick Koller, CEO of FORVIA said, ”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.”
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