With an aim to penetrate the South American market, Tata Motors reportedly plans to build a passenger car assembly plant in Venezuela.
The Financial Express said the plant would initially assemble Manza and Indica eV2 models from completely knocked down (CKD) kits exported from India and later also manufacture other products. It would be operated with a partner and have an annual capacity of 20,000 units initially.
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A Tata Motors spokesman said: “Yes, Tata Motors is setting up a plant in Venezuela to carry out full scale assembly of passenger vehicles. We will make appropriate announcements when we are ready.”
Analyst for light vehicle forecasting at IHS Automotive Gaurav Vangaal said: “There are many India-made vehicles available in Latin American countries today and are also gaining popularity but to add production at the site is a significant move. It will allow Tata Motors to expand its global presence to better penetrate the market while understanding the local conditions well.”
The company currently has nine CV assembly plants overseas.
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