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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Tata Motors    TATAMOTORS   INE155A01022

TATA MOTORS (TATAMOTORS)
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Tata Motors Limited : Fiat and Tata to re-align their Indian joint-venture

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05/02/2012 | 01:59pm CEST

Fiat and Tata to re-align their Indian joint-venture

Fiat and Tata have agreed that, in order to further develop the Fiat brand in India, management control of Fiat's commercial and distribution activities will be handed over to a separate Fiat Group owned company. Currently Tata Motors has been managing the distribution responsibility of the Fiat branded products in India through joint Tata-Fiat dealerships.

As part of the growth plans and in order to provide greater focus on the Fiat brand, Tata Motors will hand over the distribution and service responsibility for Fiat cars in India to a Fiat Group owned company being formed for this purpose.

Announced in 2006, the Fiat-Tata joint venture also encompasses manufacturing activities located in Ranjangaon in the State of Maharashtra, India. The manufacturing plant uses state-of-the-art technology to produce Fiat and Tata cars in addition to engines and transmissions for both the Indian and export market and recently announced a contract to supply its Small Diesel Engine to Maruti Suzuki. In its five years of operation, the industrial JV has produced some 190,000 cars and 337,000 powertrains. It will continue with these manufacturing activities as they are outside of the new distribution agreement and will supply cars and powertrains to Fiat and Tata.

Development of the new Fiat dealer network for India will start progressively and the 178 existing Fiat-franchised Tata dealers in 129 cities will be encouraged to form the foundation of the future network.

Fiat will establish a new, separate, company which will assume responsibility for all commercial and service related activities from the current Tata-dedicated team assigned to manage the Fiat brand.

Both, Fiat and Tata will endeavor to ensure a smooth transition of sales and service support to customers and the dealer network.

About Fiat Group Automobiles
Fiat built its first car in 1899. Approximately 90 million cars and light commercial vehicles have been produced since that date. Many of its models have marked important milestones in motoring history.
The Sector, which changed its name into Fiat Group Automobiles on February 1, 2007, produces and sells vehicles under the Fiat, Alfa Romeo, Lancia and Abarth brands and light commercial vehicles under the Fiat Professional brand. Each brand has a specific identity with defined, recognized characteristics, and applies distinct commercial and market policies. Fiat is known for its creativity, versatility and practicality. Lancia features an elite and exclusive line of models. Alfa Romeo combines sportiness, technology and elegance in a unique design. Abarth is the answer to the quest for sporty versions and Fiat Professional's light commercial vehicles are a reference point for easier, more productive and gratifying working experiences. Fiat Group Automobiles comprises five companies: Fiat Automobiles, Alfa Romeo Automobiles, Lancia Automobiles, Abarth & C and Fiat Light Commercial Vehicles. All these companies are 100% owned by Fiat Group Automobiles S.p.A.

About Tata Motors
Tata Motors is India's largest automobile company, with consolidated revenues of Rs. 1,23,133 crores ($ 27 billion) in 2010-11. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, Spain and South Africa. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also distributes Fiat cars in India, and has an industrial joint venture with Fiat in India. With over 6.5 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top three in passenger vehicles. It is also the world's fourth largest truck and bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America. (www.tatamotors.com)

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EBIT 2019 163 B
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