Tata AutoComp, a leading auto component supplier in India has signed a Memorandum of Understanding (MoU) with the Skoda Group, a leading European manufacturer of components and vehicles for public transport.
The agreement sets the framework for a strategic joint venture aimed at producing components for the growing Indian railway and public mobility market. Tata AutoComp has significant play in providing systems and components for electric vehicles. The partnership will further diversify Tata AutoComp’s portfolio and strengthen its capability in railway, metro and bus segment.
Arvind Goel, Chairman, Tata AutoComp said “Tata AutoComp has always been a pioneer in introducing cutting edge technology to its customers. This association with Skoda Group will further strengthen our presence by bringing the latest electrical equipment and components for Indian railway, metro and bus market. We take pride in our partnership with Skoda Group, a company steadfastly dedicated to serving global markets with its diverse range of railway components”.
The Czech company says this move is in sync with its business strategy to strengthening Skoda Group’s position on foreign markets and expanding its presence outside Europe.
Petr Novotny, President Components & Bus Mobility, Skoda Group, said “Our collaboration with Tata AutoComp Systems represents an exciting opportunity to enter the Indian railway and bus public mobility market. India’s great potential, coupled with the skilled workforce and market demand, aligns perfectly with our group’s growth strategy. Together, we will explore new opportunity and create innovative solutions to meet the developing needs of the Indian railway industry.”
Skoda Group says the development and production of electrical equipment and components is one of its strong foundations. In addition to supplying its own products, Skoda aims to expand its footprint in the rail and urban transport sectors. It designs and manufactures the components to meet key requirements such as high reliability, safety, efficiency, low energy consumption, robustness, low lifecycle costs and maximum environmental friendliness. Leveraging Tata AutoComp’s profound expertise within the Indian railway market and its notable contributions to the ‘Vande Bharat’ train project, this partnership is set to amplify its influence while materialising a mutually enriching and sustainable collaboration.
