Tata Technologies and BMW Group have established a strategic engagement to establish a joint venture focused on fresh software development for BMW. Tata Technologies' share price has soared by over 6% since the announcement of this major agreement. The main goal of the joint venture is to develop advanced automotive software, focusing on new features like autonomous driving capabilities and cutting-edge dashboard systems. Tata Technologies has stated that its venture is focused on delivering a wide range of automotive software solutions, specifically software-defined vehicle (SDV) technologies customised for BMW's premium vehicles. Additionally, they offer comprehensive digital transformation solutions that aim to improve business IT infrastructure.
Warren Harris, CEO and MD of Tata Technologies said: "Our collaboration with the BMW Group demonstrates our commitment to providing top-tier solutions in automotive software and digital engineering to customers across the world. 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."
Alexander Buresch, CIO and Senior Vice President of BMW Group IT said: "The expansion of international DevOps* hubs has clearly proved to be a successful model for the BMW Group. I am therefore extremely pleased that we have found a strong and valued technology partner with Tata Technologies and are now also expanding our footprint in India."
Although the specific financial details are not revealed, it has been confirmed that Tata Technologies and BMW Group would have equal ownership, with each having a 50% part in the newly established corporation emerging from this cooperation.
Tata Technologies, a subsidiary of Tata Motors, is well-known for its ability to provide advanced engineering and technology solutions to a wide range of clients in the automotive, aerospace, and heavy equipment industries.
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