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Automotive Axles inks MOU with Meritor HVS (India)

Automotive Axles Ltd. | Auto Ancillary | Automobiles | BSE: 505010 | NSE: AUTOAXLES

20 Mar 2025 Evaluate

Automotive Axles has entered into a binding memorandum of understanding (MOU) with Meritor HVS (India) (MHVSIL). The company’s board had approved the same in their meeting held on March 20, 2025. Under the MOU, Company and MHVSIL have agreed to a revised commercial understanding with respect to the business/operations of the Company and MHVSIL, wherein, certain customers of MHVSIL shall be transferred to the Company and will be directly serviced by the Company, subject to signing of relevant documentation with such customers. These customers are currently being supplied certain products manufactured by the Company, which MHVSIL has been procuring from the Company under a Supply Agreement dated February 27, 1999.

As per the new arrangement envisaged due to the rejection of the material related party transactions between the Company and MHVSIL by the shareholders of the Company, the Company will now directly supply these products to the concerned customers. This change has been undertaken to ensure continuity of supply and will not result in any change to the product specifications, pricing, or terms of service for the customers.

The said MOU supplements and prevails over the existing arrangements between the Company and MHVSIL relating to supply and technical assistance to effect the said revised commercial understanding between the parties. Further, it is proposed that the Company and MHVSIL shall enter into a services agreement in due course with respect to certain marketing, business development, engineering and product development, account management and relationship related services to be provided by MHVSIL to the Company.

Automotive Axles (AAL) is a joint venture of Kalyani Group and Meritor Inc., USA. The company manufactures drive axles, non-drive axles, front steer axles, specialty & defence axles and drum & disc brakes.

Auto.Axle Share Price

1889.10 101.95 (5.70%)

17-Apr-2026 16:59 View Price Chart

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Automotive Axles inks MOU with Meritor HVS (India)

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