Sources have stated that Indian automotive designing firm Tata Technologies has acquired Gothenburg based Escenda Engineering to significantly enhance the company’s scale and service offering in Sweden and across Europe, informed the company in an official statement and when following the acquisition, Escenda Engineering is to be established as a 100% subsidiary of Tata Technologies Europe.
It was stated that the company will maintain the same management team and full workforce under the new ownership. The acquisition is an essential component in Tata Technologies’ European growth strategy and follows the recent $26 million investment in the development of a new European Innovation and Development Centre in the UK.
Sale, Chief Operating Officer of Tata Technologies Europe, said “The
acquisition of Escenda will boost our capacity in the Nordics as well as our
capabilities in the automotive sector, where we already support a range of
global OEMS. The acquisition is a transformational development in an important
growing European market”. Escenda has more than 150 engineers and the company’s
revenue has grown by approximately 230% across the last four years. The company
has a long relationship with Volvo cars.
Maruti Suzuki crossover gets new lease of life with last year face lift According to sources the S-Cross was not received as well as Maruti Suzuki would have originally liked but the crossover has seen a strong revival in demand in the last financial year. Maruti sold 30,923 units of the S-Cross in FY 2017-18, representing a solid 44.3 percent growth in sales over FY 2016-17. In FY 2015-16, the S-Cross found 24,077 buyers, though it must be noted that the model was only on sale for nine months during the period.
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