Tata Motors joins hands with Thailand's Thonburi
Monday, 18 December 2006, 18:30 IST
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New Delhi: Indian auto major Tata Motors has formed a joint venture with Thailand's Thonburi Automotive Assembly Plant Company to build, assemble and market pickup trucks in the Southeast Asian country. Tata Motors, with revenues of $5.5 billion in 2005-2006, is India's largest automobile company. It is the biggest player in India's commercial vehicles' segment. The Indian auto major will hold 70 percent stake in the joint venture while Thonburi, an independent auto assembler, the remaining 30 percent. The joint venture "will get vehicles manufactured in Thonburi's manufacturing facility. It will go on stream in a year's time," Tata Motors said in a statement. "The joint venture will facilitate the company address the Thailand market, the second largest pickup market in the world after the US. Both partners will jointly manage the operation," the company statement said. The joint venture will also explore potential in other regional markets apart from Thailand. Tata Group Chairman Ratan N. Tata said: "We believe the joint venture will make meaningful impact in this most competitive market for pickup vehicles."
Source: IANS
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