India: The Czech manufacturer has announced the joint venture with TATA AutoComp Systems, a subsidiary of one of India’s largest industrial conglomerates, which has so far concentrated only on automotive components. The parties came into preliminary arrangements in 2023, signing the Memorandum of Understanding.
The joint venture would focus on manufacturing of motors and motor components for metros, light rail transport and EMUs. The amount of investment has not been unveiled. Through the partnership, Škoda Group will enter the Indian market, while TATA AutoComp Systems will expand its presence in the segments of railway transport and metro systems.
The companies have signed the agreement, anticipating rapid growth of India’s rolling stock market in the coming years. Today, the country’s large orders are highly competitive. In addition, the national programme Make in India supports local companies in gaining competencies to produce machines and components domestically.
