Eicher Arm VECV To Raise Stake In Connected Solutions JV To 74%

VE Commercial Vehicles Ltd (VECV), a subsidiary of Eicher Motors Ltd, has approved an increase in its shareholding in VE Connected Solutions Pvt Ltd (VECS) from 51% to 74%, according to a regulatory filing by Eicher Motors.

The transaction involves VECV acquiring an additional 23% stake in the connected solutions company from existing joint venture partner iTriangle Infotech Pvt Ltd for a cash consideration of INR 11.01 million. Following the transaction, iTriangle’s holding in VECS will reduce to 26%.

VECS, formerly known as Aquila Mobility Solutions Pvt Ltd, was formed as a joint venture between VECV and iTriangle in May 2024 and began operations in August 2024. The company reported turnover of INR 911 million for FY2025-26, up from INR 330.4 million in the previous fiscal year.

According to the filing, the acquisition is intended to support the development and implementation of connected and cost-effective mobility solutions. VECS operates in areas including telematics, connected vehicles, automotive compliance services, electric mobility solutions, cargo and fuel security, and driver monitoring systems.

VECV will acquire 115,000 shares of VECS at INR 95.80 per share. The transaction is expected to be completed on or before July 31, 2026, and does not require any governmental or regulatory approvals, the company said.