Tata Motors, one of largest manufacturers in Indian automobile market, has decided to invest an amount of 30 million pounds, for Research and Development (R&D) in National Automotive Innovation Campus (NAIC) in United Kingdom. Officials from the firm have confirmed this sum, which amounts to over 300 crore INR, will be spent extensively for advanced research and development purposes. This will take place through the participation of Tata Motors European Technical Centre (TMETAC), which is a subsidiary of the automotive giant.
In a statement, Tata Motors said, “The NAIC, who represents a total investment of around 100 million pounds, will receive funding from Tata Motors of around 30 million pounds, alongside the support of its partners, Jaguar Land Rover, WMG and the UK Government’s Higher Education Funding Council England (HEFCE),”
NAIC is being built at Coventry with a budget of nearly 100 million pounds. It has been showing great promise to provide a much-awaited boost in creating jobs in this area. It is scheduled to start operating from 2016 and will feature approximately a thousand leading engineers and eminent scientists from around the globe. According to plans, it will provide a research centre for creation of path-breaking technologies in the automobile industry. This campus, on one hand, will help to bring about major innovations in the field of automobiles, while on the other; will put Coventry on the global map of recognition. The entire idea of developing this research facility has received praises and positive feedbacks from the industry experts as well as councillors and leaders of this area.
Tim Leverton, Head of Advanced Engineering and Product Development at Tata Motors, said in a statement, “This investment constitutes the next step in Tata Motors’ strategy to develop world class products for its global customers and TMETC plays a significant role in that plan.”
This research ground provided by NAIC will offer TMETC and its partner ample facilities to research and bring about innovations that would benefit the industry as a whole. Apart from improving techniques used in the industry, this will also focus on offering academic teaching at University of Warwick. Adding further, the company's statement said, “This will significantly enhance TMETC’s contribution to Tata Motors’ future product innovation and development.”
The construction work of NAIC is set to initiate in the month of September 2014 and on, completion will form a major part of the automotive research and development assets of the UK. Accompanying TMETC in its efforts in the NAIC project will be its partners, Jaguar Land Rover and Warwick Manufacturing Group (WMG), at the University of Warwick.
Tata Motors Limited, a famous brand in India, had posted consolidated revenue of 34.7 billion USD in the previous financial year. Also, the world's fourth largest bus and fifth largest truck manufacturer in the world, it is the leader in commercial vehicles in all the sectors and features among the top in providing automobiles for passenger transport.
