Tata Motors in 70:30 JV with Thailand's Thonburi

New Delhi, Dec 18: Tata Motors Ltd today said it has entered into a 70:30 joint venture agreement with Thailand-based independent assembler of automobiles Thonburi Automotive Assembly Plant Co to manufacture, assemble and market pickup trucks.

As per the terms of the joint venture (JV), the vehicles will be manufactured in Thonburi's manufacturing facility, which is expected to go on stream in a year's time.

''Introduction at 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,'' Tata Motors Chairman Ratan N Tata said.

With the JV, the company expects to address the Thailand market, the second largest pickup market in the world after the US.

''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,'' the company said.

Both the partners will jointly manage the operation.

UNI