BMW and India's Tata Technologies to form JV for developing software (updated)

Tata Technologies

02/04/2024 05:10

(Adds details and background from paragraph 2)
       BENGALURU, April 2 (Reuters) - BMW Group  BMWG.DE  and
Tata Technologies  TATE.NS  will form a joint venture for the
development of software for the German luxury automaker, the
Indian engineering services company said on Tuesday.
    The venture will develop automotive software for automated
driving and the dashboard system among other features, it said,
but didn't disclose any financial details of the agreement. 
    Tata Technologies and the BMW Group will each hold a 50%
stake in the newly-formed company, it added.
    Tata Technologies, the unit of carmaker Tata Motors
 TAMO.NS , provides engineering and technology services to auto,
aero and heavy machinery makers.

 (Reporting by Varun Hebbalalu in Bengaluru; Editing by Savio
D'Souza and Rashmi Aich)
 ((varunvyas.hebbalalu@thomsonreuters.com;))