| The global truck project, which involves developing a completely new commercial vehicle platform aimed at the developed markets of Europe, is expected to be launched by 2007. |
| "Daewoo has competencies that the two companies can now share. As a result, the process of developing of a new "truck of the future" will be considerably hastened. Working jointly with Daewoo will ease the pressure on Tata Motors and help us keep the investment down," said Ravi Kant, executive director, Tata Motors. |
| Daewoo has already begun work on developing its new generation commercial vehicles for developed countries independently. |
| Tata Motors flagged off its own global truck project a year ago and has since then made substantial investments in it. |
| "The range of products that Tata Motors and Daewoo now has will allow us to target emerging markets with dynamics similar to that of India. But now we can jointly work on the new global truck project to take on the more established global brands like Scania, Volvo and others," Kant said. |
| Besides augmenting its presence in India and Korea, Tata Motors is also planning to make Daewoo its manufacturing hub for China, south east Asia, South Africa, Russia and Latin America. |
| "Daewoo makes only heavy top-end trucks now, but we will initiate the manufacture of medium range trucks within the next 12-18 months in Korea for emerging markets," Kant said. |
| Though Daewoo Commercial Vehicle enjoys a 25 per cent market share in the heavy commercial vehicle segment in South Korea, its capacity utilisation has been rather low at 25 per cent last year. |
| The Korean facility has a capacity to roll out 20,000 heavy, medium and light commercial vehicles. So far, Daewoo Commercial Vehicle has been selling only 2,000 to 4,000 trucks a year outside Korea. |
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