Tata Elxsi (NSE:TATAELXSI, BOM:500408) and unmanned aerial vehicle (UAV) manufacturer Garuda Aerospace .230have signed a memorandum of understanding to establish a UAV design, engineering, and certification center focused on defense, agriculture, and smart city applications, according to a Wednesday release filed with the Indian bourses.
Tata Elxsi will handle the design, testing, and certification of UAV subsystems, while Garuda Aerospace will focus on business acquisition and delivery.
The drones developed will be used for multiple applications, including payload management, goods delivery, precision agriculture, and ISR missions, according to the release.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.