C. TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION
Efforts made towards technology absorption, adaptation an innovation
Initiatives on technological changes with an emphasis on customer orientation has been sharpened. The Company is putting continuous efforts in acquisition, development, assimilation, and utilization of technological knowledge. The Company, in its constant endeavor to improve processes in design and planning in the manufacturing domain, has implemented integration of digital product data into digital manufacturing planning system. Substantial progress has been achieved on various advanced engineering projects. Projects in this portfolio include development of vehicles running on alternative fuels including CNG, LPG, Ethanol, Bio-Diesel and Hydrogen. The Company focuses on alternate fuels, greenhouse gas reduction and fuel effciency improvements. The Company is actively working on various hybrid and electric power trains for hybrid, electric and fuel cell electric vehicles for both commercial and passenger car applications. Various initiatives for power trains were taken up during the year which consisted of performance improvement, development to meet stringent emission norms and refinement. Development of new generation power trains was also initiated during the year. The Company is focusing on new technologies to enhance the safety of the occupants. Safety performance target setting is also done through Computer-Aided-Engineering and testing capabilities.
Benefits derived as a result of the above efforts
These initiatives supported the Company's endeavour in bringing about improvements in existing products and developing new products. The Company was able to emphasize on value analysis/value engineering and innovative cost reduction ideas to cut down the cost.