Indian Economy News

TATA AutoComp Systems signs initial pact with Skoda group

  • IBEF
  • August 24, 2023

TATA Auto Components Systems has signed an initial pact with Skoda Group for a strategic partnership to jointly produce components for the railways, metro, and bus segments. The company stated that it has significant pay in providing systems and components for electric vehicles and the association with Skoda Group will further strengthen its presence by bringing the latest electrical equipment and components for the three segments.

In addition to other things, Tata Auto component manufactures a variety of parts, systems, and aggregates for two- and three-wheelers, farm, and off-road machinery, as well as for passenger and commercial vehicles. It provides these products and services to domestic and global automotive Original Equipment Manufacturers (OEMs) as well as Tier-1 suppliers.

According to TATA Auto Components, the agreement with Skoda Group sets the framework for a strategic joint venture focused on producing components for the growing Indian railway and public mobility market.

The association with Skoda Group will further strengthen the presence by bringing up the latest electrical equipment and components for the Indian railway, metro and bus market says, Mr. Arvind Goel, Chairman, TATA Auto Components.

The Skoda Group is seeking to tap Into India’s potential through its partnership with Tata Auto Components to deliver shared benefits and accelerate business development. One of the goals of the company is to strengthen its position in foreign markets and expand its presence outside Europe.

The great potential of India, coupled with the skilled workforce and market demand, aligns perfectly with our group’s growth strategy, says Mr. Petr Novotny, President of Components and Bus Mobility at Skoda Group.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.