Eicher Motors’ material unlisted subsidiary -- VE Commercial Vehicles (VECV) has received approval to increase the shareholding in VE Connected Solutions (formerly known as Aquila Mobility Solutions) from 51% to 74%.
Pursuant to this acquisition, VECV will be able to develop and implement cost-effective, innovative products and services resulting in enhanced value to customers. The cash consideration of Rs 11.01 million was made by VECV for the acquisition of an additional 23% shareholding in VE Connected Solutions. The investment by VECV is expected to be completed on or before July 31, 2026.
The Board of Directors of VE Commercial Vehicles, at its meeting held on May 18, 2026, has approved the same.
Eicher Motors is engaged in manufacturing automobile products and related components. The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.
