Porsche AG has signed a five-year agreement worth €1.25 billion (US$1.5 billion) with Indian IT services giant Tata Consultancy Services (TCS), as the automaker moves to expand the use of artificial intelligence across its operations.
Under the agreement, TCS will deploy AI technologies across Porsche’s engineering, manufacturing, operations and customer experience functions, supporting the company’s broader digital transformation strategy.
As part of the deal, TCS will also acquire Porsche’s Germany-based consulting subsidiary, MHP Management- und IT-Beratung GmbH, in a transaction valued at €320 million (US$374 million).
According to TCS, Porsche CEO Michael Leiters said the sale of MHP is aligned with the automaker’s strategy of concentrating on its core business activities.
The acquisition is expected to be completed within three to four months, subject to obtaining the necessary regulatory approvals, TCS said.
Ceylon Chamber’s SLANZBC Delegation Strengthens Sri Lankan Business Presence in Australia
A business delegation to Australia led by the Ceylon Chamber of Commerce’s Sri Lanka–Australia–New Zealand Business Council (SLANZBC) explored new opportunities for trade, investment and institutional collaboration through engagements with Australian parliamentarians, government agencies, trade organisations and business leaders in Canberra, Melbourne and Sydney.
Organised in collaboration with the High Commission of Sri Lanka in Australia, the delegation brought together representatives from the technology and AI, martech, venture capital, fisheries and logistics sectors. Discussions focused on identifying areas where businesses from Sri Lanka and Australia could establish stronger commercial partnerships and expand bilateral trade.
In Canberra, the delegation met with Federal parliamentarians, including Hon. Cassandra Fernando MP, Chair of the Australia–Sri Lanka Parliamentary Friendship Group, along with representatives from Austrade, DFAT and the Australian Chamber of Commerce and Industry.
The discussions covered Australia’s trade priorities, Sri Lanka’s emerging business capabilities and the role of diaspora and commercial networks in strengthening bilateral economic ties. The possibility of organising a reciprocal trade mission was also explored.
In Melbourne, the delegation held meetings with Global Victoria, Invest Victoria, the Food and Beverage Association and the Australia Sri Lanka Business Council. Discussions centred on trade and investment opportunities, food and beverage, technology and other areas of potential commercial cooperation.
The Melbourne programme also featured a networking cocktail, giving delegates an opportunity to engage with members of the Australian business community and identify potential areas for future collaboration.
The delegation’s visit concluded with a networking session in Sydney, organised in partnership with the Chartered Accountants in Sri Lanka – Australia Chapter, bringing together representatives of both the Sri Lankan and Australian business communities and further strengthening opportunities for business-to-business engagement.
Porsche Signs $1.46 Billion AI Partnership with India’s TCS
