Tata Motors has announced its entry the Pakistan market through its subsidiary Tata Daewoo Commercial Vehicle Co (TDCV).
TDVC has commissioned a new truck and bus assembly unit in Karachi in a technical assistance pact with Afzal Motors (Pvt) Ltd of Pakistan, which was formally inaugurated by Pakistan's prime minister Shaukat Aziz.
The 3,000-vehicles per annum capacity plant will assemble TDCV's heavy-duty trucks and buses from the Daewoo bus company. Afzal Motors has already begun sourcing knocked down sets of TDCV trucks, tat motors said in a communiqué.
Tata Motors expects TDCV trucks to have a market share of 30 per cent in Pakistan in 2007-08.
TDCV is a 100 per cent subsidiary of Tata Motors and is the second largest manufacturer of heavy-duty trucks in South Korea, with a modern manufacturing facility at Gunsan.
It is also the largest exporter of heavy-duty trucks from South Korea, accounting for about two-thirds of the export of such vehicles from the country. In 2005-06, TDCV posted a turnover of Rs1,584 crore, a growth of 34.5 per cent and a profit of Rs58 crore, a growth of 160 per cent, the statement said.