Porsche signs $1.5 billion AI deal with India's Tata Consultancy Services

Published Aug 26, 03:19 AM UTC

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German sports car maker Porsche has signed a five-year contract worth 1.25 billion euros ($1.46 billion) with India's largest IT services firm, Tata Consultancy Services (TCS), to deploy artificial intelligence. As part of the deal, TCS will acquire Porsche's IT consulting business, MHP, for 320 million euros. TCS will establish a specialized hub to oversee AI deployment at Porsche, combining Porsche's automotive expertise with TCS's digital and AI capabilities. The partnership aims to boost Porsche's innovation, efficiency, and competitiveness in a data- and software-driven mobility world. The deal is part of Porsche's 'Sportwagenschmiede 35' strategy to improve profitability and cash flow. TCS has secured multiple AI-led deals recently, reporting annualized AI revenues of $2.6 billion in the June quarter.

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US Top News and AnalysisWestern

Original headline: Porsche inks $1.5 billion deal for AI deployment with India’s largest IT services firm Tata Consultancy

Original language: EN-US