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Journalism of Courage
Automotive giant Tata Motors will set up an industrial joint venture with Italian car maker Fiat to manufacture passenger vehicles, engines and transmissions for the Indian and overseas markets and will be utilising Fiat’s facility at Ranjangaon for this purpose.
Announcing the tie-up here today, Tata Motors officials said that both Fiat and Tata vehicles would be manufactured at the Ranjangaon facility which has a capacity of manufacturing 1,00,000 cars and 250,000 engines and transmissions annually.
Meanwhile, in a move which could give Tatas a manufacturing base in Latin America, the two companies have also decided to undertake a 60-day study aimed at exploring industrial and commercial cooperation in Latin America.
Officials said that the study will focus on different vehicles, especially utility vehicles and pickups and on exploring the opportunity of using the existing Fiat production facilities in Cordoba, Argentina. Products manufactured there would be sold in various Latin American and overseas markets under both Fiat and the Tata brands.
‘‘Both Companies have complementary strengths, convergent objectives and shared values. Together, we can meaningfully address markets in India and other select geographies, combining technologies, products and human skills of both organisations,’’ Tata Group chairman Ratan Tata said while commenting on the agreement.
