Tata AutoComp has signed a Memorandum of Understanding with Skoda Group to set the framework for a strategic joint venture to produce components for the growing Indian railway and public mobility market.
The partnership will further diversify the company's portfolio and strengthen its capability in railway, metro and bus segments, by bringing sustainable innovations at an affordable cost.
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.
Through the partnership with Tata AutoComp, Skoda Group seeks to tap into India's potential to deliver shared benefits and accelerate business development.
A press release from Tata AutoComp noted that leveraging its expertise within the Indian Railway Market and its notable contributions to the 'Vande Bharat' train project, the partnership is set to amplify its influence while materialising a mutually enriching and sustainable collaboration.
Arvind Goel, Chairman, Tata AutoComp, noted that the association with Skoda Group will strengthen the company’s presence by bringing the latest electrical equipment and components to the Indian Railway, Metro, and Bus market.
Petr Novotný, President Components and Bus Mobility, Skoda Group, stated that the 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 the group's growth strategy, he added.
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