Tata Motors & Thonburi of Thailand Set Up Joint Venture in Thailand for Pickup Trucks

Tata Motors, India’s largest automobile company, and Thonburi Automotive Assembly Plant Co. (Thonburi), the Thailand-based independent assembler of automobiles, have joined hands to form a joint venture company in Thailand to manufacture, assemble and market pickup trucks.

The joint venture agreement was signed on 18th December 2006 by the Managing Director of Tata Motors, Ravi Kant, and the Managing Director of Thonburi, Robru Viriyaphant.

The joint venture, in which Tata Motors will hold 70% of the equity and Thonburi 30%, will get vehicles manufactured in Thonburi's manufacturing facility. It will go on stream in a year's time.

The joint venture will facilitate Tata Motors address the Thailand market, the second largest pickup market 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.

 
Ratan N Tata, Chairman, Tata Motors said, "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."

Robru Viriyaphant said, "The cooperation with Tata Motors offers Thonburi the opportunity to expand our business portfolio. Tata vehicles have dominated the Indian commercial vehicle market for decades and the company is now aiming for a stronger presence internationally. We are proud to be a part of this expansion strategy because of our great confidence in Tata products and technology. The new pickup truck will be the right product for both domestic and export markets."