Tata Motors has formed a new unit that will help the Indian automotive group develop new business areas.
The division, which is called Tamo, will unveil its first product at the Geneva auto show early next month.
Tamo will serve as an incubator for new technologies, business models and partnerships, the company said. The open platform is designed to connect Tata with startups and tech companies that can help it define the new business areas it wants to develop.
Tata Motors CEO Guenter Butschek cited six themes the carmaker will pursue: topline improvement, cost management, structural improvements, customer centricity, new mobility solutions and organizational effectiveness.
The success of Tata Motors “depends on our ability to deliver on our comprehensive strategies for our business units,” he said in a statement. “To secure our future in a rapidly changing environment, the advanced mobility solutions space is of utmost importance.”
Tata Motors is India’s biggest automotive company. It owns Britain’s Jaguar Land Rover Group.
As part of a new passenger-vehicle strategy, Tata Motors plans to produce seven or eight variants from two modular vehicle platforms. The platform strategy, it said, will allow the development and marketing of new technologies in the areas of powertrain, driver assistance and connectivity.
The company acknowledged that it needs to make substantial changes to be successful in the rapidly evolving personal mobility market. Tamo will help make those changes, Tata Motors said.
“The idea is to find new and agile ways of innovating and experimenting,” Tata Motors President Tim Leverton said in the statement. “Our success in this new mobility world will be contingent on our ability to network globally and to partner with new thought leaders.”
Tata Motors said Tamo will specifically look for opportunities at worldwide innovation hubs, where it hopes to work with startup companies.