Tata Motors has forayed in the South East Asian market by tying up with
Vietnam's
TMT Joint Stock Company. Tata Motors has confirmed about it’s collaboration with the Vietnamese company, which will facilitate its distribution, supply and technology licence agreements.
As per a news report by The Economic Times, the agreements will enable TMT to become the distributor of selected Tata Motors commercial vehicles, as well as expand its vehicle assembly business and distribution network in Vietnam.
As part of the pact, Tata Motors will supply completely knocked down (CKD) and completely built unit (CBU) vehicles to TMT in Vietnam, enabling TMT to further strengthen its position, in the local automotive industry.
"Our foray into Vietnam is an important step in our continuing
journey to become a truly
global player and in particular our focus on the
ASEAN region after our recent entry into Indonesia, Philippines and
Malaysia," Tata Motors Executive Director, Commercial Vehicles Business Unit, Ravi Pisharody said.
TMT
Chairman,
Bui Van Huu said: "It is indeed an honour for us that Tata Motors, known to be among the world's top truck and bus manufacturers, has chosen to partner with
TMT JSC to start this new chapter in their engagement with the Vietnam market.
