Tata Elxsi, a global design and technology services company, announced the opening of a Global Engineering Center (GEC) with Schaeffler Technologies AG & Co. KG, a world leader in providing mechatronics solutions for the Transportation industry. Tata Elxsi has been selected as the Global engineering services partner by Schaeffler, and the GEC is part of a strategic multi-year engineering services engagement. The GEC center in Pune will focus on Mechatronics, Digital & embedded technologies with the highest level of talent in line with Schaeffler's vision for driving "Mobility for Tomorrow". This center will be pivotal to help accelerate innovation and drive digital transformation and growth for Schaeffler's mechatronics business. Commenting on this announcement Lars Noetzig, VP –Central Mechatronics, Schaeffler Technologies AG, said, "Tata Elxsi has proved itself as a partner by bringing the right blend of technical expertise, program management skills, forward looking technological investments to support Schaeffler in its all-important journey. They will help us in collaboration with our centers in India and Germany to build the required talent bases for the increasing footprint of mechatronics products of Schaeffler." "We are delighted to be selected as a strategic partner to Schaeffler supporting their mechatronics transformation, through our expertise in product development and digital technologies. This further consolidates our automotive position in Europe and fortifies the focused investments that we have pursued over these years as a design led engineering solutions provider," said Nitin Pai, Chief Marketing and Strategy Office, Tata Elxsi.
This story was originally published by ProPublica. On June 30, 2016, an auto-parts magnate received the kind of news anyone would dread: The Internal Revenue Service had determined he had engaged in abusive tax maneuvers. He stood accused of masking about $5 billion in income. The IRS wanted over $1.2 billion in back taxes and penalties. The magnate, Georg Schaeffler, was the billionaire scion of a family-owned German manufacturer and was quietly working as a corporate lawyer in Dallas. Schaeffler had extra reason to fear the IRS, it seemed. In 2009, the IRS had formed a crack team of specialists to unravel the tax dodges of the ultrawealthy. In an age of widening inequality, with a concentration of wealth not seen since the Gilded Age, the rich were evading taxes through ever more sophisticated maneuvers. The IRS commissioner aimed to stanch the country's losses with what he proclaimed would be "a game-changing strategy." In short order, Charles Rettig, then a high-powered tax lawyer and today President Donald Trump's IRS commissioner, warned that the squad was conducting "the audits from hell." If Trump were being audited, Rettig wrote during the presidential campaign, this is the elite team that would do it. The wealth team embarked on a contentious audit of Schaeffler in 2012, eventually determining that he owed about $1.2 billion in unpaid taxes and penalties.