Porsche inks US$1.5 billion AI deal with India’s Tata Consultancy
[STUTTGART] Porsche partnered with Tata Consultancy Services for deploying artificial intelligence in a 1.25 billion euros (US$1.5 billion) deal, while agreeing to...
Porsche has entered a five-year partnership with India's Tata Consultancy Services (TCS) to integrate artificial intelligence across various functions of the automaker, including engineering, manufacturing, operations, and customer experience. The deal is valued at US$1.5 billion, as confirmed by TCS in a statement on Monday (Aug 24).
As part of the agreement, TCS will acquire Porsche's Germany-based consulting unit, MHP Management- und IT-Beratung GmbH, for approximately US$320 million. Porsche CEO Michael Leiters stated that the acquisition aligns with the company's strategy to concentrate on its core business. The partnership is anticipated to be finalized within three to four months, pending regulatory approvals.
This collaboration provides TCS with a stronger presence in Europe, positioning the firm as a consulting partner for a wider range of industry customers.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- Porsche signs $1.5b AI deal with India’s TCS techinasia.com
- Porsche is selling its IT consulting unit to Tata Consultancy Services in a $1.5 billion AI deal qz.com
- Porsche inks $1.5 billion deal for AI deployment with India’s largest IT services firm Tata Consultancy cnbc.com
- Porsche partners with Tata in $1.5 billion AI deal investing.com
