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New Delhi, Nov. 2

Eicher Motors Ltd (EML) has informed the NSE that its subsidiary company VE Commercial Vehicles (VECV) is looking to enter into a joint venture with Swedish firm Vinn Group AB in the field of Engineering Design Services.Vinn Group AB is a joint venture between Vinn Group and Volvo Technology Transfer AB (VTT), a wholly owned subsidiary of AB Volvo. VECV would look to align its engineering design services division along with EES Inc, USA and its two subsidiaries in China, c ollectively referred as ‘EES Division’. This division currently contributes around 2 per cent of VECV’s consolidated revenues and around 1.7 per cent of EML’s consolidated revenues. An MoU for this purpose is being signed between VECV and Vinn Group.

— Our Bureau

More Stories on : Alliances & Joint Ventures | Automobile Components

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