Eicher Motors Ltd has informed BSE that the Board of Directors of VE Commercial Vehicles Ltd a subsidiary company of Eicher Motors Ltd in its board meeting held on October 30 has decided to explore the further business opportunities in the field of engineering design services along with Vinn Group AB of Sweden for aligning its Engineering Design Services Division along with EES Inc of US and its two subsidiaries in China.

For this purpose, a non-binding Memorandum of Understanding is being signed amongst Vinn Group AB of Sweden, VECV and their respective shareholders. The objective of the MoU is to explore the alignment of EES Division of VECV with Vinn Group AB, Sweden through an efficient structure.

(Sourced from Business Line)