The decision to spend the money comes on the back of an alliance between the Indian MNC and three major European car manufacturers to understand their requirements for future car models
Tata Steel has drawn up an investment plan of 2.3 million euros (Rs16.5 crore) to develop “next generation” steel for automotive use at its facility at Ijmuiden in the Netherlands. The products will be lighter, stronger and better able to withstand crashes,” the company said in a statement.
Tata Steel said the decision to spend the money comes on the back of an alliance between the Indian MNC and three major European car manufacturers to understand their requirements for future car models.
“This investment comes out of discussions we have been having with some of our automotive customers about their visions for the vehicles of the future,” Tata Steel Europe’s chief commercial officer Henrik Adam said.
Tata Steel said the Ijmuiden facility is the most technologically advanced in the world, combining characteristics of commercial industrial line alongside special research features to control and measure atmosphere, temperature, speed, force, stress and friction.
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