VE Commercial Vehicles (VECV), a material subsidiary of Eicher Motors, has entered into a joint venture with iTriangle Infotech (iTriangle), wherein VECV shall hold 51% of the share capital of the joint venture company (JV Co) and the remaining 49% of the share capital of the JV Co shall be held by iTriangle.
The JV Co shall undertake the business of location intelligence solutions, fleet management solutions, commercial vehicles related operations, advisory services, connected solutions and/or other related businesses for VECV.
The initial investment as envisaged in the shares of the JV Co shall be Rs 50 lakh, of which an amount not exceeding Rs 25.5 lakh shall be invested by VECV.
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