Tata Motors

Mumbai, Dec 18 (UNI) Tata Motors and Thonburi Automotive Assembly Plant Co, a Thailand-based independent assembler of automobiles, today announced formation of a joint venture Company in Thailand to manufacture, assemble and market pickup trucks.

Informing the BSE, Tata Motors said the joint venture agreement was signed on December 18, 2006 by its Managing Director Ravi Kant and Thonburi's MD Robru Viriyaphant. The joint venture, in which the Company will hold 70 per cent of the equity and Thonburi 30 per cent, will get vehicles manufactured in Thonburi's manufacturing facility. It will go on stream in a year's time.

The joint venture will facilitate the Company 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.

The Chairman of the Company, Mr. Ratan N. Tata, said, ''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.'' UNI SN OBB AG1945