Tata Group's software unit plans more European research hubs

STOCKHOLM -- Tata Consultancy Services, a unit of Indian conglomerate Tata Group, plans to step up its European expansion with several more research hubs, its technology chief told Reuters.

Europe accounted for about a third of the company's annual revenue of $25.7 billion in its past financial year and is one of its fastest growing regions.

TCS launched its first co-innovation and advanced research center in Amsterdam last year to work with clients to adopt newer technologies, such as 5G and electric vehicles.

"There will be many more such facilities that we will be looking at over the next few years," said Chief Technology Officer K Ananth Krishnan.

TCS is in talks with telecoms companies across Europe over deployment of new technologies such as private 5G networks.

The company is also working with clients on technology to allow owners of EV fleets to charge at night when the price of electricity is less and sell back spare capacity to the grid during peak hours at higher prices.

"We were brainstorming with the CEOs of firms that operate large fleets of vehicles," Krishnan said, pointing to the likes of logistics companies seeking to switch to electric delivery vans.