Tata AutoComp, one of the leading Auto Component Players in India, has signed a Memorandum of Understanding (MoU) with Škoda Group, a leading European manufacturer of components and vehicles for public transport, to set the framework for a strategic joint venture to produce components for the growing Indian railway and public mobility market.
TataAutoComp has significant play in providing systems and components for electric vehicles (EVS). This partnership will further diversify TataAutoComp’s portfolio and strengthen its capability in Railway, metro and bus segments. TataAutoComp aims to bring sustainable innovations in mobility solutions at an affordable cost specifically catering to Railway, metro and bus segments in India, the company said in a media release.
Arvind Goel, Chairman, Tata AutoComp, said, “Tata AutoComp has always been a pioneer in introducing cutting edge technology to its customers. This association with Škoda Group will further strengthen our presence by bringing the latest electrical equipment and components for the Indian Railway, metro and bus market. We take pride in our partnership with Škoda Group, a company steadfastly dedicated to serving global markets with its diverse range of Railway components”.
Strengthening Škoda Group’s position on foreign markets and expanding its presence outside Europe – this is one of the goals of the Škoda Group’s business strategy. Through the partnership with a traditional and well-known Indian conglomerate ‘TataAutoComp’, Škoda Group seeks to tap into India’s potential to deliver shared benefits and accelerate business development, the release said.
Petr Novotný, President Components and Bus Mobility, Škoda Group, said, “Our collaboration with TataAutoComp 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 opportunities and create innovative solutions to meet the developing needs of the Indian railway industry.”
The development and production of electrical equipment and components is one of the strong foundations of Škoda Group. In addition to supplying its own products, Škoda 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 TataAutoComp’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 materializing a mutually enriching and sustainable collaboration.
