JAPAN: Tata "no plans" for overseas acquisitions
Tata Motors has no further plans to acquire any overseas automakers, a leading company executive has said.
Speaking at the Nikkei Global Management Forum in Japan, Tata's vice chairman Ravi Kant said the company's current set up was sufficient.
He also said he saw no need to form a partnership with a Japanese auto company.
Yesterday it was reported that Tata subsidiary Jaguar Land Rover is looking to up its presence in the Chinese auto market through a manufacturing and sales joint venture in the country.
In a story in the Wall Street Journal over the weekend, Carl-Peter Forster, chief executive of Jaguar Land Rover's parent company, Tata Motors, was cited as saying the division is in "good discussions" with a Chinese firm to make and market its vehicles. Although Forster would not give further details, he noted that Jaguar Land Rover would like a partner in the country "as soon as possible", the newspaper quoted him as saying.