With climate catastrophes looming, the world has finally turned its attention to e-mobility as a serious alternative to ICE vehicles. Tata Technologies has long carved its niche in the Indian Technology Ecosystem, thanks to certain company beliefs. The company is significantly contributing to the green future of India, wherein ICE vehicles contribute an estimated 123 Million Tonnes of CO2 emissions annually.
There have been multiple disruptions in the automotive industry in recent years—from autonomous vehicles to connectivity, Over-the-Air (OTA), electrification, and shared mobility (ACES). Everything heavily relies on cutting-edge software. Further disruptions in the segment are ahead of us. According to market research by Custom Market Insights, the worldwide Electric Vehicle market size was valued at approximately $205.4 billion in 2022 and is expected to reach around $1105 Billion by 2030, growing at an exorbitant CAGR of 23 percent between 2022 and 2030.
Amidst this epoch of transformation, the industry stakeholders, including OEMs, suppliers, automotive software solutions providers, and new players, hope to bank on novel opportunities and capture critical control points in the software-driven value chain. Prahalada Rao, President, Tata Technologies, engages in an exclusive interview with CEO Insights to walk through the latest endeavors of Tata Technologies in the mobility segment, its beliefs, and the future. Prahalada possesses nearly three decades of Brand Engineering and marketing experience in seven different countries in the automobile industry. He is an expert in Product Innovation, Digital Transformation, People development, and Partner management. A native product strategist well-known for enhancing business value through end-to-end Product Development, Prahalada has played a huge role in building the global brand image of Mahindra during his previous tenure.
In conversation with Prahalada Rao, President, Tata Technologies
How does Tata Technologies, with its tagline "Engineering a Better World," align its focus on engineering and digital transformation, especially considering the evolving landscape?
Tata Technologies places a strategic emphasis on both engineering and digital transformation, recognizing their pivotal roles in enhancing value across various industrial sectors. The tagline, "Engineering a Better World," encapsulates our commitment to advancing societies through innovative engineering solutions.
The realm of digital transformation has witnessed rapid acceleration, notably fueled by the impacts of COVID-19. However, it's essential to note that Tata Technologies has long been at the forefront of delivering substantial value in the digital space, dating back to the eras when it was referred to as IT or CET. Presently, when we refer to digital transformation, the emphasis lies on its transformative impact on how businesses perceive and leverage technology. The end-users, the ultimate consumers of technology, play a central role in this paradigm shift. Therefore, our tagline not only reflects our dedication to engineering excellence but also signifies a direct link to improving the lives of people.
This axis, built upon human sensitivity and centricity, is intricately linked to another dimension—our end customers
How does Tata Technologies adapt to the dynamic technology landscape and address the evolving needs of clients, particularly within the automotive sector?
The evolution within Tata Technologies unfolds across four key dimensions: our clients, end customers, the technology landscape, and our workforce. Commencing with our employees, the dynamic nature of how individuals connect with organizations remains a focal point. Rooted in the Tata Group's belief in the intrinsic value of people, our approach to employee relationships is anchored in human sensitivity and centricity.
This axis, built upon human sensitivity and centricity, is intricately linked to another dimension—our end customers. Recognizing that our employees are also consumers, we navigate the evolution of both our workforce and consumers. Our future trajectory is guided by this human-centric ethos.
In terms of technology, Tata Technologies invests considerable effort in envisioning and researching the evolution of technology. We place a special emphasis on producing insightful resources, such as white papers, to navigate and leverage technological advancements effectively.
The automotive industry has undergone substantial transformation in recent years, primarily influenced by changing perspectives on mobility. This evolution is propelled by global innovations in connectivity, electrification, sharing models, and safety. Our focus on technology plays a pivotal role in enabling advancements across these automotive dimensions.
In organizational strategy, how crucial is prioritizing employee experience alongside customer experience, and how is Tata Technologies distinctive in this regard?
Prioritizing employee experience at par with customer experience is integral to organizational success. One significant challenge in this pursuit is the scale at which enterprises onboard new talent regularly. The industry often faces the difficulty of providing a personalized experience to each employee rather than viewing them as a collective workforce. Tata Technologies takes a distinctive approach by consciously avoiding the tendency to perceive employees as mere numerical additions each month. Instead, we uphold the values of Tata Technologies, deeply rooted in the enduring legacy of the Tata Group spanning over 150 years. Every employee is evaluated within the broader context of these values, surpassing the conventional emphasis solely on engineering excellence or specific skill sets. This value-centric and people-centric approach is a cornerstone of our recruitment strategy.
Central to our commitment to personalized experiences is the provision of equitable opportunities for career advancement, benefiting both existing and new employees. Our talent management framework includes the Techversity, an in-house university inspired by various educational institutions and our own educational heritage. Techversity offers employees a unique chance to enhance skills in alignment with their focus areas, fostering overall personal development beyond technical skills. This encompasses the refinement of people skills and leadership capabilities. Moreover, our employees are exposed to projects at the forefront of innovation, ensuring that they continuously confront challenges and witness the tangible value they contribute to clients. Unlike the industry norm, where scale often obscures individual contributions, at Tata Technologies, employees actively witness and appreciate the significance of their work in the larger context.
Tata Technologies has been a leader in promoting green initiatives within the mobility sector. What is the company's trajectory in this area, and what are the key aspects shaping its future initiatives?
Tata Technologies has consistently led the charge in advancing green initiatives, particularly in the realm of electric mobility. The vision of our leadership has been to stand at the forefront of this revolutionary shift. Whether collaborating with EV startups, established corporations, or traditional automotive entities transitioning from internal combustion engines (ICE) to electric vehicles (EVs), we actively engage with all stakeholders. Our unique positioning in this space extends from aiding companies in platform development to facilitating the creation of products on these platforms, thereby contributing to the establishment of their future mobility solutions.
Currently, we have a comprehensive presence across the entire value chain, signaling a multi-dimensional future. One pivotal dimension is Software Defined Vehicles (SDVs), a rapidly evolving segment. The forthcoming emphasis in this space encompasses everything from embedded electronics to overarching architecture and engineering, reflecting the dynamic nature of the industry's trajectory.
Hobbies: “My hobbies are a part of my daily life. I exercise and spend time ensuring I am keeping myself healthy. I also find time to spin my social axis, which includes family and friends. I also spend time with my own soul with the help of music. So my hobbies are quite multi-dimensional.”
Favorite Travel Destinations: “I just had a location change from Mumbai to Pune. So whenever children come home, it is a vacation for us. Besides that, there are multiple places that we love in India and abroad. In India, Jaipur is one of my favorite places.”
Favorite Cuisines: “We are vegetarians, and we love to explore. Sometimes, when we go out as a family, we order the items on the menu that we don’t understand just by looking at the ingredients. It’s fun. I also love home-cooked vegetarian food.”
Favorite Books: Technology Publications and Books on Tata World and Spirituality.