Date:30/11/2005 URL: http://www.thehindubusinessline.com/2005/11/30/stories/2005113002470200.htm

Back Tata Motors Daewoo market share in South Korea up 4%

Our Bureau

Bangalore , Nov. 29

TATA Motors said on Tuesday that following the takeover of Daewoo's commercial vehicle business, its market share in South Korea had increased 4 per cent to 30 per cent since it started operations over a year ago.

An official said Tata Motors Daewoo Commercial Vehicle had sold around 4,000 units of its heavy vehicle, Novus, in South Korea.

Novus will now be manufactured at its Jamshedpur plant for domestic sales, said Mr Shyam Mani, Vice-President for Sales and Marketing, Commercial Vehicles, Tata Motors. The tipper would be launched initially, followed by tractors and tractor-trailers.

Tata Motors will incur a capital expenditure of around Rs 6,000 crore in the next five years and the Novus range is part of this project. The Jamshedpur plant can make 6,000 vehicles of the Novus range in a single shift.