Joint Venture15 May 2024, 11:12 pm
Eicher Motors and iTriangle Enter Joint Venture in Connected Solutions and Fleet Management
AI Summary
Eicher Motors Limited (VECV) has announced a joint venture with iTriangle Infotech Private Limited, whereby VECV will hold 51% of the share capital. The joint venture will engage in location intelligence solutions, fleet management solutions, advisory services, connected solutions, and commercial vehicle-related operations. The initial investment is INR 5 Million, with VECV contributing INR 2.55 Million. No regulatory approvals are required for this transaction, and completion is projected to take approximately two months.
Key Highlights
- Eicher Motors and iTriangle form a joint venture
- VECV to hold 51% of share capital
- Joint venture to focus on connected solutions, fleet management, and commercial vehicle operations
- Initial investment is INR 5 Million, with INR 2.55 Million from VECV
- Regulatory approvals not required, completion in two months