Tata Motors to roll out global truck

Tata Motors Ltd has set its vision high and wants to emerge as a global player in the automotive business. The company as part of its strategy to become a global player is working on a 'global truck.'

"We are currently working on a global truck of the future that will enable us to achieve our objective of providing transportation solutions globally. Our acquisition of Daewoo Commercial Vehicle Co is expected to provide us synergies in the development of this global truck. We are also working on the development of a low cost car for the Indian market," the company told Securities Exchange Commission (SEC) of the US.

Tata executives refused to give details on the global truck. "It is still a concept we would not like to discuss it," an executive said.

The company had acquired Daewoo Commercial, the truck manufacturing arm of Daewoo Motors in March this year. The company, however, for the present earns a majority of its revenues from domestic sales.

For now, the Indian market contributes a major portion of the company revenues. Approximately, 95 per cent and 92 per cent of its total revenues and 96 per cent and 93 per cent of its unit sales in fiscal 2003 and 2004, respectively.

In March this year, the company also increased its stake in Automotive Stampings and Assemblies (ASAL) to 81.35 per cent for Rs 29.87 crore. ASAL manufactures automotive components.

In its statement to SEC, Tata Motors further said, "We will continue to look for other acquisitions with a view towards achieving our goal of becoming a global automotive company."