Tata Motors is asking startups for blockchain enabled solutions for the automotive industry
Tata Motorshas announced the launch of its program TACNet, where it collaborates with startupsfor innovative solutions.
- The auto giant is calling for
blockchainenabled solutions in automotive, parking marketplace, NLP native chatbot, demand prediction algorithm.
- The Indian
auto industryis still facing a massive slowdown with Tata Motors also being badly hit.
Through the program, Tata Motors is calling for blockchain enabled solutions in automotive, parking marketplace, NLP native chatbot, demand prediction algorithm, real time monitoring of fuel quality (BSVI) and authenticating genuine spare parts.
“Today, almost every segment of the automotive value-chain is required to drive its own innovation story. As a leading Indian automotive brand, we need to constantly keep innovating for better serving the market, our customers and the categories we cater to. In the current age of uncertainty and speed of change, the above effort of sourcing solutions will need to be driven both through in-house initiatives as well as collaborating with external partners,” said Shailesh Chandra, President – Electric Mobility Business & Corporate Strategy, Tata Motors Ltd.
Tata Motors has been working on innovation by partnering with startups. In June last year, the company had made its first startup acquisition by buying a 26% stake in logistics startup TruckEasy, which works like an Uber for trucks.
It had also partnered with Zoomcar to push forward its electric vehicles – Tata Tigor EV.
The company has been in the massive slowdown that has hit the Indian auto industry. In August, Tata Motors saw a massive decline of 58% in passenger vehicles sales. For the first quarter, it had posted a massive loss of ₹36.8 billion in the first quarter of the current financial year. The losses for the quarter have doubled as compared to ₹18.6 billion in the same quarter of last year.