Economic Times: September, 2015
New Delhi: Global economy may not be out of the woods just yet, but that is not stopping Tata MotorsBSE -3.69 % from stepping up investments in overseas. India's largest automobile company by revenue has lined up major expansion plans for its trucks and buses business in international markets.
Sources tell ET NOW that Tata Motors is planning to open three new assembly plants for it's medium and small trucks this year. Tata Motors will be opening new assembly plants in Nigeria, Mauritius, Vietnam this year.The company will be spending around Rs 120-150 crore in the process.
Not only this, the company is also planning to start assembling it's Prima range of products outside India. South Africa will be the first destination where Prima will be assembled. Till now the company manufactures Prima only in India and exports it as a completely built vehicle.
In an email response to ET NOW, Tata Motors said " We continue to explore locations to expand our business. But we do not comment on feasibility studies as it is too early. However, Tata Motors is assessing the possibility to assemble Prima trucks in South Africa"
All of this is a part of the ambitious export plan which the company has. Tata Motors is planning to increase its exports by around 30% this year. Despite of the fact that the global markets are not doing well, the company is confident that it will be able to meet the target with entering into new markets.