ŠKODA Group has signed a Memorandum of Understanding (MoU) with Tata AutoComp Systems, India, to establish a strategic joint venture aimed at producing components for the growing Indian mainline and urban transport market.
Škoda says the MoU is the first step towards a feasibility study to examine the investment required and expected level of business.
“Our collaboration with Tata AutoComp Systems represents an exciting opportunity to enter the Indian railway and bus public transport market,” says Mr Petr Novotný, Škoda Group’s president, components and bus mobility.
“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. We particularly have in mind the Make in India initiative, under which we will work together to support the growth of the industry.”
“Tata AutoComp has always been a pioneer in introducing cutting-edge technology to its customers,” says Mr Arvind Goel, chairman of Tata AutoComp. “This association with Škoda Group will further strengthen our presence by bringing the latest electrical equipment and components to the Indian railway, metro and bus market.”
“The integration of local skills, knowledge, and resources with our proven products and know-how will contribute to the realisation of a mutually beneficial and sustainable partnership,” Novotný adds.