TCS Secures €1.25 Billion Five-Year Strategic Deal With Porsche, AI Push To Span Engineering & Manufacturing
TCS has secured a five-year, €1.25 billion strategic deal with Porsche to deploy AI across engineering, manufacturing, operations and customer experience, alongside MHP.
TCS has secured a five-year, €1.25 billion strategic deal with Porsche. |
Mumbai: Tata Consultancy Services (TCS) has secured a major five-year strategic technology agreement worth €1.25 billion from Porsche AG alongside MHP Management- und IT-Beratung GmbH.
The agreement follows the acquisition of MHP and will become effective from the closing date of that transaction, TCS said in a regulatory filing.
The partnership is designed to industrialise artificial intelligence across Porsche’s engineering, manufacturing and operational functions. It will also cover customer experience and the automaker’s enterprise transformation programme.
Under the agreement, TCS and MHP will deliver next-generation automotive technology services and software-defined mobility platforms. The companies aim to establish a long-term technology partnership supporting Porsche’s digital transformation priorities.
The deal places artificial intelligence at the centre of Porsche’s technology strategy. It is expected to support the adoption of AI across business functions instead of limiting its use to projects or departments.
The five-year duration provides a long execution window for the technology companies to develop, deploy and scale digital services across Porsche’s organisation.
TCS did not disclose the division of work or revenue between itself and MHP. The filing also did not provide annual contract values, project milestones or the expected financial contribution from the engagement.
ALSO READ
The agreement’s implementation remains linked to the closing of the MHP acquisition. TCS did not specify the completion date for that transaction in this disclosure.
TCS informed the BSE and the National Stock Exchange about the strategic agreement under Regulation 30 of the Securities and Exchange Board of India’s listing regulations.
The company trades under the symbol TCS on the NSE and scrip code 532540 on the BSE.
ALSO READ
The announcement builds on an earlier disclosure made by TCS regarding the MHP acquisition. The latest filing provides the value, duration and operational scope of the Porsche agreement.
TCS said details of the transaction are also available on its website. The disclosure was signed by company secretary Yashaswin Sheth.
Disclaimer: This report is based on information disclosed by Tata Consultancy Services in its regulatory filing to the stock exchanges.
RECENT STORIES
-
-
-
-
-