Tata Technologies announces completion of JV with BMW arm

by Psu Connect
Date: 09-10-24

On April 2, the company announced the execution of a Joint Venture Agreement with BMW.

New Delhi: Tata Technologies Limited has announced that BMW Holding B.V., Netherlands has completed its investment to establish the strategic joint venture BMW TechWorks India Private Limited (BTIPL).

BTIPL was incorporated on July 31, 2024, and will focus on delivering premium automotive signal and digital transformation solutions to assist BMW Group in its digital transformation journey.

On April 2, the company announced the execution of a Joint Venture Agreement with BMW. BMW Holding B.V. invested Rs 1,00,000 in BTIPL’s share capital in the JV, leading to finalization. With this investment, both Tata Technologies and BMW Holding B.V., hold an equal 50 percent share in the newly formed entity, which was initially a wholly-owned subsidiary of Tata.

BTIPL will support the BMW Group by engineering premium products and offering software-defined vehicle (SDV) solutions. The company will also provide business IT solutions, driving the BMW Group’s digital transformation efforts and improving customer experiences, Tata Technologies said in its information to the exchanges.

With an authorized share capital of Rs 10,00,000, BTIPL aims to strengthen BMW’s engineering capabilities in India.