Automobile major Tata Motors on Friday entered into a distribution, supply and technology licence agreement with Vietnam-based TMT Motor.
"Our foray into Vietnam is an important step in our continuing journey to become a truly global player and in particular our focus on the ASEAN (Association of Southeast Asian Nations) region after our recent entry into Indonesia, Philippines and Malaysia," said Ravi Pisharody, executive director, commercial vehicles business unit, Tata Motors.
"Tata Motors with a wide range of products suited for the Vietnam market, will be able to offer the customers of Vietnam, an excellent choice with a blend of high performance, economy and the latest technology in-built into the products."
According to the company, the agreements will enable TMT to become the distributor of selected Tata Motors commercial vehicles, as well as, expand its vehicle assembly business and distribution network in Vietnam.
Under the agreement, Tata Motors will supply completely knocked down (CKD) and completely built unit (CBU) vehicles to TMT in Vietnam, enabling TMT to further strengthen its position, in the local automotive industry.
