Tata Motors and Brazil’s Marcopolo forms a joint venture

Tata Motors and Brazil’s Marcopolo forms a joint venture

India’s largest maker of buses and trucks, Tata Motors has now entered into a collaboration with Brazilian bus maker Marcopolo. The two companies would work together to launch new products in the Indian market to counter the increasing competition in the market.

The joint venture has been set with an investment of 1.5-2.0 billion rupees and the two companies would establish a manufacturing plant with an initial capacity of 7,000 vehicles a year.

This plant would be manufacturing standard, luxury and city buses for Indian and overseas markets.

Tata Motors Chairman Ratan Tata said in a statement: “The joint venture with Marcopolo will enable Tata Motors to successfully address the growing demand in India, as well as relevant markets abroad.”

Tata Motors would hold a 51% stake in this partnership.