Porsche inks US$1.5 billion AI deal with India’s Tata Consultancy

Porsche partnered with Tata Consultancy Services (TCS) in a 1.25 billion euros (US$1.5 billion) five-year deal to deploy artificial intelligence across its engineering, manufacturing, operations, and customer experience functions. As part of the agreement, TCS will acquire Porsche's Germany-based consulting unit MHP Management- und IT-Beratung GmbH for an enterprise value of 320 million euros, with the sale expected to close within three to four months pending regulatory approvals. Porsche CEO Michael Leiters said the sale aligns with the automaker's strategy to focus on its core business.

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 sell its consulting unit to the Indian software services company. The five-year partnership aims to enable AI across Porsche’s engineering, manufacturing, operations and customer experience functions, according to a statement by TCS on Monday Aug 24 . The Indian firm will also buy the sports carmaker’s Germany-based consulting unit MHP Management- und IT-Beratung GmbH for an enterprise value of 320 million euros under the broader deal. Porsche sold MHP as part of its strategy to focus on its core business, the TCS statement quoted the automaker’s CEO, Michael Leiters, as saying. The acquisition is expected to be completed within three to four months, subject to regulatory approvals. The partnership will give TCS a stronger foothold in Europe, positioning the firm as a consulting partner for broader industry customers, the company said. BLOOMBERG Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free. Share with us your feedback on BT's products and services