Business Daily from THE HINDU group of publications
Wednesday, Jul 26, 2006
Business Daily from THE HINDU group of publications Wednesday, Jul 26, 2006 |
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Corporate
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Alliances & Joint Ventures
Our Bureau
Mumbai , July 25 Tata Motors and Fiat Group have announced the signing of a memorandum of understanding to establish an industrial joint venture in the country to manufacture passenger vehicles, engines and transmissions for domestic and overseas markets. Both Fiat and Tata vehicles are expected to be manufactured in the same industrial facility. The Ranjangaon facility in Maharashtra is expected to exceed an overall output of 100,000 cars and 250,000 engines and transmissions. Besides catering to manufacturing, Fiat and Tata announced to enter into a 60-day study aimed at exploring commercial viability in Latin America. The study will focus on different vehicles, especially utility vehicles and pick-ups and exploring business opportunities with Fiat's existing facilities in Cordoba, Argentina. Products manufactured here would be sold in various Latin America and overseas market under both Fiat and Tata brands.
More Stories on : Alliances & Joint Ventures | HCV/LCV/Tractors | Tata Motors Ltd
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