Tata Motors, Thonburi in JV to manufacture pickup trucks Thailand
18 Dec 2006
Tata Motors Ltd and Thonburi Automotive Assembly Plant Co. (Thonburi), an independent Thailand assembler of automobiles, have announced a joint venture in Thailand to manufacture, assemble and market pickup trucks.
Ravi Kant, managing director, Tata Motors and his counterpart at Thonburi Robru Viriyaphant, signed the joint venture agreement this morning.
Tata Motors will hold a 70-per cent majority stake in the joint venture and Thonburi, which would hold a minority 30 per cent, will manufacture the vehicles at its facility in Thailand.
The joint venture will strengthen Ata Motor's ability to access the Thailand market, the second largest market for pickup tucks in the world after the US. Both partners will jointly manage the operation. The pickup trucks will conform to international standards in quality and safety, and will be marketed in Thailand and exported to other potential markets in the region.
In a statement Tata Group chairman Ratan N Tata, "Introduction of Tata Motors' pickup vehicles and a manufacturing facility in Thailand provide a unique opportunity to the company. We believe the joint venture will make meaningful impact in this most competitive market for pickup vehicles."
