Comments
Rico Auto Industries has signed a 50:50 joint venture agreement with Ultra Fairwood PTE Ltd, Singapore, to manufacture PODs (autonomous electric vehicles to be run on dedicated tracks) for personal rapid transport (PRT), group rapid transport (GRT) or any variant thereof. Though it has not disclosed the financial details, Rico Auto said, equity shares of the joint venture will be issued to the companies as per the agreement and each will nominate three directors in the venture. Shares of Rico Auto closed flat at ₹94.85 on the NSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.