Mumbai, May 5 (UNI) Tata Motors Ltd from India and Marcopolo of Brazil, have announced setting up of a joint venture company in India to manufacture and assemble fully-built buses and coaches.
The joint venture - with Tata motors holding 51 per cent of the equity and Marcopolo 49 per cent - will set up a new manufacturing facility to be operational in a year's time. It will produce variety of buses including 16 to 54-seater standard buses, 18 and 45 seater luxury buses, luxury coaches, and low-floor city buses. The joint venture will also explore emerging opportunities in Bus Rapid Transit System, a company release informed the BSE today.
Tata Motors chairman Ratan Tata, said, "The rapidly expanding and improving road network, connecting cities and also rural areas, is expected to substantially grow passenger transport. The joint venture with Marcopolo, which is one of the largest bus body builders, will enable Tata Motors to successfully address the growing demand in India, as well as relevant markets abroad." In the joint venture, Tata motors will provide help in technology and expertise in chassis and aggregates, whereas expertise, know-how in processes and systems for bus bodybuilding and body design would come from Marcopolo. Both Companies will actively participate in the management. The buses will conform to international standards in quality and safety, and will be marketed not only in India but also in all the company focussed markets globally.
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