The company recently collaborated with the Manipur government to transform technical training and encourage entrepreneurship and innovation in the state
Tata Group’s engineering and design subsidiary Tata Technologies has received new orders worth over $100 million (Rs 740 crore) which are mainly in the embedded vehicle electronics and digital domains, a top company official told Autocar Professional.
In an interaction with the publication, Tata Technologies CEO Warren Harris informed that most of the orders are from overseas four-wheeler OEMs with some from two-wheeler OEMs too. He added that a significant portion of the new business is believed to have come from the EV category.
Harris further told the publication that the company has seen a significant uptick in the embedded technology business segment, amidst the pandemic and has been partnering with automakers from India, China, Japan, and Sweden amongst others for its adoption.
Commenting on growth headwinds, Harris says that though Tata Technologies has thus far remained unaffected by semiconductor shortages, he believes that if the chip crisis continues for the next 12-18 months, some of its customers may cut down on discretionary investments.
The company recently collaborated with the Manipur government to transform technical training and encourage entrepreneurship and innovation in the state.
The two parties have entered into a Memorandum of Agreement (MoA) for a period of 3 years for the purpose.
The company expects to clock 40 per cent growth in FY2022 to achieve revenues of around Rs 3,700 crore. This will constitute a smart return to form after the 16.5 per cent decline to Rs 2,381 crore in the pandemic-impacted FY2021.
