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BMW and India’s Tata Technologies to form JV for developing software
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BENGALURU (Reuters) -BMW Group and Tata Technologies will form a joint venture for the development of software for the German luxury automaker, the Indian engineering services company said on Tuesday.
BENGALURU (Reuters) -BMW Group and Tata Technologies 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, 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)
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity, sharing profits, losses, and control.
Automotive software refers to computer programs and systems used in vehicles for various functions, including automated driving, dashboard systems, and vehicle diagnostics.
Tata Technologies is an Indian engineering services company that provides technology and engineering services to the automotive, aerospace, and heavy machinery sectors.
Automated driving refers to the use of technology that allows vehicles to operate without human intervention, utilizing sensors, cameras, and software to navigate and control the vehicle.
A dashboard system in vehicles displays important information to the driver, such as speed, fuel level, and navigation, often integrating various technologies for enhanced user experience.
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