Globally acclaimed engineering and digital services firm Tata Technologies just declared that, it has already joined hands with BMW Group to form a joint venture (JV) aimed at establishing an automotive software development hub in multiple locations in India.
According to the stock exchange filing of the company, the hubs which will be the automotive software development centres, are planned to be established in Pune, Bengaluru, and Chennai. the company also informed that the primary development and operational functions will be situated in Bengaluru and Pune, while Chennai will focus on business IT solutions.
After the announcement, shares of Tata Technologies gained as much as 7.31% to an intraday high of Rs.1,126.8 apiece on the BSE in morning trade. The Joint Venture is focusing on Tata Technologies' digital engineering expertise and talent pool in India to boost the BMW Group's initiative of enhancing software coding capabilities across its global IT hubs and ensuring 24/7 operations.
Targeting on software development, particularly in solutions for software-defined vehicles (SDV), the joint venure will concentrate on digitalisation and automation of product development, production, and sales processes. According to today’s morning report of BSE, shares of Tata Technologies were trading 5.74% higher at Rs.1,110.2 apiece.
Following its establishment, the collaboration will benefit from the immediate contributions of 100 trained and experienced Tata Technologies professionals to ongoing software projects, with the potential for rapid expansion to a four-digit workforce in subsequent years.
Warren Harris, CEO and MD of Tata Technologies, expressed, "Aligned with our vision of engineering a better world, we’re excited to bring our expertise to the forefront, aiding BMW Group in engineering premium products, delivering great digital experiences for their customers and propelling its digital transformation journey in Business IT."
The CIO, and Senior Vice President of BMW Group IT, Alexander Buresch stated, "We have found a strong and valued technology partner with Tata Technologies and are now also expanding our footprint in India."
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