Tata Technologies to offer complete solutions in vehicular development

“The lab will allow us to provide for end-to-end product development capabilities, including production innovation, value engineering, cost engineering and benchmarking services,” he said.

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Spread over the 8,000-square-foot area, the lab will allow for equipment dismantling, studies and comparison for the company’s client. While multiple locations were looked at for setting up this centre, Pune was zeroed in as Harris said the Indian engineers are capable of frugal innovation. The centre will be used by company engineers across the globe for their product-development projects.

Currently, the company has eight full vehicle engineering programmess being run for four automotive original equipment manufacturers (OEMs). Harris said all the vehicles were in the passenger vehicle sector and included an SUV and a sports car. The timeframe for product development ranges between 24 and 48 months.

The company, he said, does not have any immediate plan for going public with an IPO. Negating various speculations going around the subject, he said it the has no firm plan for going public. “Our balance sheet is strong with $130 million in cash,” he said.

It will continue its growth both organically and inorganically.

Harris said it has been looking at possible acquisitions but has not finalised any deal in the last 18 months. In order to tap in newer talent and innovative ideas, especially in the field of connected cars or embedded systems, it has recently opened a centre in Silicon Valley. “We have plans to partner with VC funds to allow us to drive investments in start-ups who are working in this field,” he said.