Tata Technologies rose 1.11% to Rs 1,055.10 after the company has launched the joint venture with the BMW Group namely BMW TechWorks India, to focused on developing automotive software and business IT Solutions.
According to the exchange filing, the company stated that with the final signing of contracts and the approval of the relevant authorities, the joint venture will commence operations with an initial workforce of 100 employees, located across key technology hubs in Pune, Bengaluru, and Chennai.
Both Tata Technologies and BMW Group hold equal shares in the venture, which plans to rapidly scale its workforce to four digits by the end of 2025, focusing on attracting Indias top engineering talent. This collaboration underscores a shared vision to drive innovation in automotive technology and business IT.
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This collaboration is the ethos of Engineer in India for the World. Indias exceptional engineering and IT talent will play a pivotal role in developing strategic software solutions for SDVs, automated driving, digital infotainment, and automotive digital services.
In addition to automotive software, the joint venture will provide digital innovations for the BMW Group’s Business IT. Consequently, BMW TechWorks India will expedite the digital transformation of the car manufacturer’s global production network as well as strengthen its digital customer journey and sales processes. Another key area of focus will be the development of AI applications and platforms, which will increase the speed and efficiency of all core business processes.
This JV offers young Indian professionals an unparalleled opportunity to work on breakthrough technologies that will shape the future of mobility on a global scale.
Warren Harris, CEO and MD of Tata Technologies, said, Our joint venture with the BMW Group, BMW TechWorks India, underscores our deep expertise in software-defined vehicles and reflects our commitment to driving innovation in both automotive software and business IT. By leveraging Tata Technologies’ strong brand presence in India, this JV will attract top talent and provide a platform to develop forward-thinking solutions that redefine the future of mobility. We are excited to partner with the BMW Group in engineering premium, software-driven vehicles, enhancing digital experiences, and accelerating their digital transformation journey.
Aditya Khera, CEO of BMW TechWorks India expressed his delight on the establishment of the JV: With the launch of BMW TechWorks India, we are establishing a world-class software hub that will play a critical role in the BMW Group’s automotive software and business IT strategy. By combining the BMW Group’s and Tata Technologies’ leadership in software-defined vehicles and product engineering excellence, we are poised for innovation and growth, offering India’s top talent the opportunity to shape the future of the BMW Group’s mobility solutions.
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Tata Technologies is a global product engineering and digital services company.
The companys consolidated net profit fell 15.4% to Rs 162.03 crore in Q1 FY25 as against 191.53 crore posted in Q1 FY24. Revenue from operations rose marginally to Rs 1,268.97 crore in Q1 FY25 as compared to Rs 1,257.53 crore recorded in Q1 FY24.
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First Published: Oct 09 2024 | 2:08 PM IST