Tata Motors to invest Rs 120 cr in Thai JV

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Tata Motors to invest Rs 120 cr in Thai JV

Tata Motors seems to be on an expansion overdrive. It has entered into a joint venture with Thailand-based Thornburi for pickup trucks. Tata motors will invest Rs 120 crore in the Thai JV. MD at Tata Motors, Ravi Kant says that they may hike the stake in Hispano Carrocera.

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Tata Motors seems to be in an expansion overdrive. It has entered into a joint venture with Thailand-based Thornburi for pickup trucks, investing Rs 120 crore into it.

MD at Tata Motors , Ravi Kant says that they may hike the stake in Hispano Carrocera.He adds that depending upon the success of the pickups we will look at other products.

Excerpts from CNBC-TV18's exclusive interview with Ravi Kant:

Q: What are the kinds of opportunities that this JV would throw up?

A: It does give an opportunity as we have our manufacturing footprint and depending upon the success we achieve we can look at other things.

Q: You said the production capacity would be one shift with around 12,000 units. Going ahead what kind of market do you see for these kinds of vehicles in the Thai market?

A: Currently pickup sells about 450,000, which may go up to 500,000 and we expect to sell about 30,000 in the third year from our start of production.

Q: Does this joint venture give an opportunity to expand into the passenger vehicle segment also?

A: We haven't looked at that as we are starting with pickup and depending upon what kind of success we achieve there we will look at other products .

Q: You have a similar joint venture with Hispano Carrocera for bus business where you have 21% stake. Are you trying to hike it further now?

A: Its not similar as we are starting with 70% in this andin Hispano Carrocera  we had started with 21%. So there is a big difference.

Q: Are you planning to hike it further now?

A: We will look at the possibility. We also have the option to go right up to 100% in Hispano Carrocera.

Q: Are you planning to do it in this fiscal?

A: We haven't thought about that.