“There are limits to shipping fully assembled vehicles (to Europe),” Mr. Kim said at a ceremony marking the launch of his company’s new Prima Euro 5 truck.
“We believe we must first advance to key markets through partnerships with local companies that can either come in the form of a joint venture or shipping CKD kits.”
Tata Daewoo was set up in 2004 after the Indian company acquired what began as the commercial vehicle unit of the now-defunct Daewoo Motor Co.
Mr. Kim also announced his company’s bold plan to become the largest commercial vehicle manufacturer in South Korea next year by increasing its market share to more than 50 per cent. The company is currently placed second with about a 30-per cent market share after the country’s largest automaker Hyundai Motor Co.
The Prima Euro 5 are the latest versions of Tata Daewoo’s Prima trucks designed to meet the strict Euro 5 emissions standards of the European Union. The local price of the 25-ton ultra cargo truck has been set at US$143,770.
