Indian Auto Firm to Enter South Korea's Small Truck Market

SEOUL, March 19, 2004; Yonhap News reported that India's Tata Motors, which acquired South Korea's Daewoo Commercial Vehicles Co. last month, will enter the small- and mid-sized truck markets in Korea as well as expand its large truck market presence, a visiting executive from the world's sixth-largest commercial-vehicle producer said Friday.

In addition, Tata Motors, an auto unit of India's largest conglomerate Tata Group, also plans to allow Daewoo to take part in its next-generation truck development project, Executive Director Ravi Kant said in a news conference at a Seoul hotel.