Technology and services provider Bosch Ltd on Monday announced the formation of a joint venture with Tata AutoComp Systems Ltd to cater to the requirements of electric mobility. The partners plan to hold equal shares in the joint venture, which aims to start its operations by mid-2026, subject to receiving all regulatory approvals, Bosch Ltd said in a regulatory filing. The joint venture will focus on engineering, manufacturing and sales of eAxle systems and electric motors in India, it added. With a registered office in Pune, the joint venture aims to accelerate the adoption of sustainable and forward-looking technologies, thereby expanding the regional footprint for both companies in the e-mobility space, the filing said. "India being the world's third largest automotive market, Bosch aims to leverage stronger opportunities for its business in India. This planned partnership with TACO further cements our presence in e-mobility, enabling us to deliver cutting edge global solutions
Rising input costs, export risks to the Middle East and fears of gas supply disruptions weigh on Indian auto stocks amid the escalating Iran conflict
Among others, Bharat Forge, TVS Motor, and Tata Motors Passenger Vehicles slipped over 3 per cent
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The BSE 500 index hit a 52-week high at 37,771.93 on Friday, and stands 2.6 per cent away from it's all-time high of 38,740.08 touched on September 27, 2024.
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