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L&T Technology Services Ltd
BSE Code 540115 ISIN Demat INE010V01017 Book Value (₹) 477.60 NSE Symbol LTTS Div & Yield % 1.12 Market Cap ( Cr.) 47,123.36 P/E * 37.44 EPS * 119 Face Value (₹) 2
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L&T Technology Services collaborates with FORVIA Back
(02 May 2024)

L&T Technology 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.

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.