New Delhi: Tata Motors is betting big on emerging mobility solutions and mulling setting up innovation centres globally to be "future ready" while having a more formal presence across the world, as it aims to be among the top three passenger vehicle makers in India by 2019.
The first innovation centre has been set up in proximity to the Silicon Valley, US.
"Tata Motors has embarked on a transformation journey with a vision to become future ready. In line with our mission to provide innovative mobility solutions... we are keenly exploring opportunities in mobility services that would allow us to offer seamless solutions to our customers in the future," Tata Motors Chief Executive Officer and Managing Director Guenter Butschek told PTI in an e-mail interview.
Faster time-to-market new technologies will be the company's key goal, Butschek added.
"Our objective is to find new and agile ways of innovating and experimenting. As an element to enable this goal, it has been decided to establish a more formal presence in specific locations globally," Butschek said.
The company, which already has a strong presence in India and Europe with significant R&D resources, believes that partnership is the path to innovation.
"The importance of Silicon Valley as a fertile source of future innovation means that it is now important to build up a presence there that can scout for new technologies and build relationships with key players including start-ups located there," Butschek said.
The initiative is part of supporting Tata branded product strategies in India and the company believes it will help it realise and access the budding trends and ideas which will further shape into future products and services.
"This complements our strategy to rank amongst the top three passenger vehicle manufacturers in India by 2019," Butschek said.
He, however, did not share details about the number and locations of other such centres.
The Mumbai-based automaker is working on a slew of initiatives, including tripling of sales network, filling the gaps in its product portfolio, improving manufacturing processes and brand image, as part of its strategy to be one of the leading players in the passenger vehicle segment.
According to SIAM data, in the April-November period during this fiscal the company ranks at fourth position in the passenger vehicle segment.
The company, which plans to launch two new products each year till 2020, sold 1,14,721 units in the April-November period in the domestic market, an increase of 12.04 per cent as compared to the same period of previous fiscal.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)