Tata AutoComp, Skoda Group Partners To Produce Components For Indian Railway & Public Mobility Market
Auto Component Player, Tata AutoComp has signed a Memorandum of Understanding (MoU) with Skoda Group, a European manufacturer of components and vehicles for public transport. This 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. This partnership will further diversify Tata AutoComp’s portfolio and strengthen its capability in Railway, Metro & Bus Segment. Tata AutoComp aims to bring sustainable innovations in mobility solutions at an affordable cost specifically catering to Railway, Metro & Bus Segment in India.
Speaking on the occasion, Arvind Goel, Chairman of Tata AutoComp, said “This association with Skoda Group will further strengthen our presence by bringing the latest electrical equipment and components for Indian Railway, Metro & Bus market.”
Strengthening Skoda Group's position on foreign markets and expanding its presence outside Europe - this is one of the goals of the Skoda Group's business strategy. Through the partnership, Skoda Group seeks to tap into India's potential to deliver shared benefits and accelerate business development.
On a similar note, Petr Novotný, President of Components & Bus Mobility Business at 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.”
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.
