Ashok Leyland and Siemens VDO Automotive AG, Germany, have signed an agreement for a 50:50 joint venture to design, develop and adapt infotronics products and services for the transportation sector.
According to a release issued by Ashok Leyland to the BSE today, the agreement was signed by managing director R Seshasayee and Christoph Maximilian Eisenhardt, CEO (global commercial vehicles business), Siemens VDO in Chennai today.
"Our customer insight, engineering capabilities and competitiveness together with the technology strengths of a global leader such as Siemens VDO will be a unique combination that will fuel the growth of this JV in what is undeniably the emerging big opportunity in the transportation sector,” R Seshasayee, MD, Ashok Leyland, said.
The two companies are consortium members in the Chennai metropolitan bus terminus project to be launched later this year.
Read more in The Business Standard article.
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