Škoda Group signs MoU with TATA AutoComp Systems / Image -Škoda Group
Škoda Group, a leading European manufacturer of components and vehicles for public transport has signed a memorandum of understanding (MoU) with TATA AutoComp Systems, which sets the framework for a strategic joint venture aimed at producing components for the growing Indian railway and public mobility market.
“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. Together, we will explore new opportunities and create innovative solutions to meet the developing needs of the Indian railway industry.,” Petr Novotný, president of components and bus mobility at Škoda Group said.
“In line with this, we particularly have on top of our mind the Make in India initiative, under which we will work together to support the growth of the industry in response to dynamic market demands. The integration of local skills, knowledge, and resources with our proven products and know-how will contribute to the realization of a mutually beneficial and sustainable partnership,” Novotný added.
“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,” stated Arvind Goel, chairman at Tata AutoComp.
According to a release by Škoda Group, the partnership marks the first step towards a comprehensive feasibility study that will outline the scope of investment, expected scale of business, and other key considerations. By combining the expertise and knowledge of both companies, the joint venture aims to create a strong foundation for long-term success in the Indian railway sector.
In addition to supplying its products, Škoda aims to significantly increase the volume of orders from external customers in the rail and urban transport sectors. The company 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.