According to a top company official, Tata Technologies, global engineering, and product development digital services firm, expects to generate close to half a billion dollars in revenue this fiscal year, owing to accelerated growth from electric mobility across the globe and offshoring of projects by its customers following COVID-19.

The company, which had seen a "precipitous dip" in revenue at the start of the epidemic, reported revenue of USD 119.3 million in the second quarter of this fiscal year, up from USD 80.1 million in the same period of FY21.

He said a lot of that was done "in anticipation of the kind of pendulum swing that we're seeing at the moment," with almost everyone moving away from internal combustion engines to embrace some form of electrification. Tata Technologies developed its first EV in 2012 and has been investing in building skills and intellectual property on EV technology for over 10 years, he said.

"Most of our clients have taken that chance to truly affect the transformation from the old to the new manner of doing things," he stated since then. The hunger for outsourcing has increased enormously, as has the confidence in digital technology and the readiness to change.

As a result, he claims that Tata Technologies has been growing sequentially for the past six quarters.