Eicher Motors Limited has announced the appointment of Mr. Vinod Kumar Aggarwal as the Executive Vice-Chairman of the company. The decision was taken by the Board of Directors at its meeting held on May 21, 2026. This appointment is effective immediately, subject to the approval of the members of the company.

Mr. Aggarwal has been appointed for a tenure of three years. He brings extensive experience to the role, having spent 43 years with the Eicher Group out of a total industry experience of 45 years. His career with the company spans over four decades, during which he has held several key management positions.

Profile and Experience

Mr. Vinod Kumar Aggarwal is a qualified Chartered Accountant and Cost and Management Accountant, and a commerce graduate from Punjab University. Prior to this elevation, he was serving as the Non-Executive Vice Chairman of the company, a position he held since February 13, 2025. He has been on the Board of the company as a Non-Executive Director since April 1, 2019.

Throughout his tenure, Mr. Aggarwal has led significant business verticals. He served as the Chief Financial Officer of the Eicher Group from 2005 to 2009 and held the position of President of Eicher Trucks and Buses. He also led VE Commercial Vehicles Limited, the company's joint venture with AB Volvo, for over 16 years as CEO and later as CEO and Managing Director. Most recently, he was the Non-Executive Chairman of VECV effective April 1, 2026.

Key Details

The following table summarizes the key details regarding the appointment:

Mr. Aggarwal is not related to any of the other Directors of the company. Furthermore, he is not debarred from holding the office of a Director by any order passed by the Securities and Exchange Board of India or any other authority. He is also the Past President of the Society of Indian Automobile Manufacturers (SIAM) and the Automotive Skills Development Council (ASDC).

The Board of Directors of VE Commercial Vehicles Limited (VECV), a material unlisted subsidiary of Eicher Motors Limited, at its meeting held on May 18, 2026, approved an increase in VECV's shareholding in VE Connected Solutions Private Limited (formerly known as Aquila Mobility Solutions Private Limited) from 51% to 74%. The enhanced stake is aimed at boosting connected vehicle technology by enabling VECV to develop and implement cost-effective, innovative products and services, resulting in enhanced value to customers. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

About VE Connected Solutions

VE Connected Solutions Private Limited (VECS) was incorporated on May 9, 2023, and was established as a joint venture between VECV and iTriangle Infotech Private Limited on May 15, 2024, commencing operations in August 2024. The company operates in the Automotive Connected Solutions industry and is engaged in a broad range of technology-driven services and products. Its business activities include:

• Software design, development, customization, implementation, maintenance, testing, and benchmarking
• Connected services pertaining to Internet of Vehicles (IoVs), telematics, and connected vehicles
• Compliance-related services for automotive and connected vehicles
• Products and services related to electric and connected vehicles, automotive compliance, fuel and cargo security, and driver state monitoring systems
• Dealing in its own and third-party software and hardware packages

VECS has a presence in India and has demonstrated strong revenue growth since commencing operations, as reflected in the turnover history below:

Transaction Details

Under the proposed acquisition, VECV will acquire an additional 23% shareholding in VECS from iTriangle Infotech Private Limited through a cash consideration. The key terms of the transaction are summarised below:

No governmental, regulatory, or statutory approvals are required for this transaction. The acquisition is being undertaken at arm's length, and the promoters and promoter group of Eicher Motors Limited have no interest in the transaction.

Post-Acquisition Shareholding Structure

Upon completion of the proposed acquisition, the shareholding pattern of VECS will be as follows:

Regulatory Disclosure

The intimation was submitted to BSE Limited and the National Stock Exchange of India Ltd on May 18, 2026, in compliance with Regulation 30 read with Para A of Part A of Schedule III of the SEBI Listing Regulations and SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The disclosure was signed by Atul Sharma, Company Secretary of Eicher Motors Limited.