JAMSHEDPUR: Tata Motors on Monday rolled out the 'Novus' range of heavy commercial vehicles () from its manufacturing facility here in collaboration with Tata Daewoo Commercial Vehicles Company of South Korea.
The Novus range of HCVs would be launched in the Indian market starting with tippers, followed by tractor trailers, dumpers and cargo vehicles, Managing Director of Tata Motors Ravi Kant told a press conference here.
Following the acquisition of Daewoo Commercial Vehicles Company of Korea by Tata Motors in 2004, the Novus range would be optimised to Indian conditions.
Initially, the import content would be around 75 per cent, after which localisation of components would be increased gradually.
Kant said that the new plant set up in Jamshedpur for manufacturing the Novus range was a part of the ongoing Rs 6000 crore capital expenditure plan of Tata Motors Limited earmarked for the next five years.
He said that Daewoo had been exporting the Novus range to countries like New Zealand, Morrocco, Ireland and South Africa. ''These vehicles would now be exported to more countries like Japan, China and some African countries in future from India,'' Kant added.
Slated for launched in December 2005, the initial capacity for manufacturing Tata Novus at the Jamshedpur plant would be 6000 units per year.
To a question about possible merger between Tata Motors and its 100 per cent subsidiary Tata Daewoo Commercial Vehicles Company, Kant said that the both would remain as stand alone firms.
Tata Motors in eyeing the construction and mining sectors for marketing the Novus range.
Asked about the growth of the commercial vehicles segment, he said that it should grow between nine to 10 oer cent in the current year. PTI DC BS DKC PC KMN 11141438 DEL
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