Shweta Suri
Its being a tough time for Sasken Communication Technologies as it is receiving a series of blows with Tata Group calling off the two years old joint venture between the two, last week and the latest Chapter 11 bankruptcy filing by Nortel Networks just added to the woes of the company.
Tata Group pulls out from the two year old JV between the two companies, named TACO Sasken Automotive Electronics (TSAE) and the 100 related employees have been asked to quit. The JV was formed with an extreme focus on areas like telematics, infotainment and occupant convenience but no potential progress has been made in this regard.
No formal responses have been received from Sasken with regard to the progress in this case. TACO has 14 other Joint Ventures with various auto component firms and it provides services to many automotive majors such as Ashok Leyland, Fiat, Ford, General Motors, Honda, Hyundai, M&M, Tata Motors, and many more.
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