TATA ventures with Fiat

Jalandhar, Sep 8 (UNI) Tata Motors Ltd is working on establishing separate industrial joint venture in India with the Fiat Auto to maufacture passenger cars and engines for the Indian and overseas markets.

The company Assistant General Manager Dipankar Tiwari told reporters here today that a memorandum of understanding (MoU) had already been signed for the purpose and further deliberations between officials of both the companies were progressing well.

Mr Tiwari said that project installation and establishment process would be taken up after conclusion of the dialogue.

He said that his company had already been distributing Fiat branded cars in India.

Besides this, his company's international footprints included Tata Daewoo Commercial Vehicle Co Ltd in South Korea, Hispano Carrocera, the bus and coach manufacturer of Spain in which Tata Motors had 21 per cent stake and 50:50 joint venture with Macropolo, the Brazil based body builder of buses and coaches.

Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the West Asia, Asia and Australia, Mr Tiwari added.

Tata Motors, with revenues up to 5.5 billion dollars during 2005-06, has so far rolled out about four million Tata vehicles in India too.

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