Amid the global supply chain shift, digitization and climate change, Tata Group is accelerating its business transformation, including planning to launch a battery company for the global market.
Business Standard, Reuters, and PTI reported that N Chandrasekaran, chairman of Tata Sons, the holding company of Tata Group, revealed how he plans to build a future-ready group in a virtual meeting hosted by the Confederation of Indian Industry.
According to Chandrasekaran, in the post-COVID world, the group's transformation will include embedding digital, data, AI, and sustainability across businesses, and he outlined digital, new energy, supply chain resilience, and health as the four key areas of the group.
Chandrasekaran said that the Internet penetrated everyone's lives in the past two years, and advances in AI, cloud and data technology are separating top companies from the rest. Furthermore, amid the global supply chain rebalancing, suppliers have resilience consideration in mind rather than just efficiency, allowing India to play an important role and fill the void.
As for sustainability, Chandrasekaran said that Tata is pursuing carbon and water neutral, adding that the group will set up a battery company in India and abroad. However, Chandrasekaran did not elaborate on the details of the company.
The Tata group has been pushing transformation through organic and inorganic growth in recent years. Tata has acquired startups such as BigBasket and 1mg to build its super app TataNeu and established Tata Fintech to support the super app.
In terms of the manufacturing business, Tata plans to launch 10 electric vehicles by 2025, and its Jaguar brand will be entirely electric by the same year. Tata acquired network devices manufacturer Tejas Networks, which bought fabless IC startup Sankhya Labs.
Tata has launched a company for creating a 5G and beyond telecom gear for the global markets, according to Chandrasekaran.
On the other hand, Tata established Tata Electronics, whose plant is located in Tamil Nadu, in 2020 to foray into precision engineering. Tata Electronics will initially produce mobile components and later get into the semiconductor packaging business.
N Chandrasekaran, chairman of Tata Sons