Monday, March 20, 2023

Tata AutoComp targets $3 billion revenue in 5 years


Pune-based auto component manufacturer Tata AutoComp Systems, a Tata Group company is targeting $3 billion revenue by 2025 with its revised business strategies and through joint ventures. The auto component manufacturer aims to be a global leader in the segment with huge investments in R&D, cutting-edge technology, global joint ventures and robust manufacturing process.

Tata AutoComp at present has ten joint ventures with leading global auto component firms. Through these joint ventures, the company serves almost all the auto OEMs across the world. Apart from the Tata Motors, the component manufacturer’s clientele includes auto OEMs like Ashok Leyland, AMW, BharatBenz, Eicher, MAN Force Trucks Pvt Ltd, Iveco, Mahindra & Mahindra, Piaggio.

It has 36 manufacturing facilities in India. Apart from that, it also has 9 manufacturing plants in North America, Latin America, Europe and China as well. Across India, it has plants in Rudrapur, Lucknow, Sanand, Halol, Pune, Jamshedpur, Dharwad, Bengaluru, Chennai, Hosur and Sri City.

As the company claims, it has business in 7 countries across the world. With the 7,000 people strong workforce, the company is claimed to have witnessed a growth of 39% CAGR.

The Tier-1 auto component manufacturer produces engine cooling systems, automotive batteries, command systems, HVAC, rearview mirrors, electric solutions, suspension system etc.

Tata AutoComp produces components and systems for passenger vehicles, two-wheelers, all types of commercial vehicles and tractors.

In order to grab a significant chunk in the emerging electric vehicle segment, Tata AutoComp is developing a strong portfolio. The company produces EV charger for electric passenger vehicles.

Commenting on the revenue goal, Arvind Goel, MD of Tata AutoComp, said, “Our goal is to be a $3 billion company by 2025. Tata AutoComp from being a local player has transitioned to be global through its own businesses and multinational joint ventures.”

Founder chairman of Tata AutoComp and Chairman of Tata Trusts, Ratan N Tata too said how the joint ventures with many global auto component companies have helped in laying a strong foundation for the auto parts maker.

Also Read: Tata Motors grabbed 66.70% market share in electric cars’ segment in H1 FY21

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