Tata Motors have commenced working on a joint venture with Iveco, a subsidiary of Fiat Group,for a manufacturing base for commercial vehicles in Russia, reports DNA.
The joint venture plan is a result of an agreement signed earlier this year between Tata Motors (Q, N,C,F)* and Iveco as part of overall collaboration agreement with the Fiat group .
Tata Motors, which in mid-2008willlaunch the `World Truck`, will use Russian venture as distribution and manufaturingplatform.
A steering committee had been set up by Tata Motorsto prepare a report onfeasibility of theJV for both short and long term. This committee after detailed analysis of various global markets, particularly in emerging countries, had zeroed in on Russia.
As per the tentative plans,medium and heavy commercial vehicles will be the focus for the Russian manufacturing base, at least in the initial stages.
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