12/05/2015 09:37 GMT+7 Email Print Like 0

Vietnam, India boost cooperation in automobile industry

Hanoi, May 11 (VNA)- The Vietnam's TMT Motor Corporation will become the distributor of TATA Motors Limited—the largest manufacturer in the Indian automobile industry, as stipulated in an agreement on car distribution and supply and technology transfer signed in Hanoi on May 11.

According to the agreement, TATA Motor will provide TMT with spares parts and completely-built-up automobiles for distribution in the Vietnamese market. This will help TMT enlarge its operations, affirm its position in the domestic automobile industry and broaden exports to ASEAN countries.

Bui Van Huu, Chairman of the TMT Motor Corporation, highlighted that the company aims to build the TATA trademark while delivering global-standard TATA products and services to Vietnamese customers.

RT Wasan, TATA Motors’ Head of Commercial Vehicle International Business, underscored that the nexus between the company and the Vietnamese automobile sector was created by the penetration of TATA automobiles into the Southeast Asian country.

He pledged to bring highly-competitive products with TATA quality certification to Vietnamese consumers.

TMT Motor Corporation is a leading unit in assembling and distributing automobiles in Vietnam. TATA Motors is the biggest automobile manufacturer in India, recording a total revenue of 38.9 billion USD in 2013-2014.

The strategic partnership between the two companies is expected to benefit both sides.
VNA/VNP