Indian automobile manufacturer Tata Motors is in the process of adopting a global approach and is developing products suitable for the global markets. The carmaker is also exploring the opportunities to venture into the South American market.
Commenting on the development, Mr. Karl Slym Managing Director Tata Motors stated that the automaker is looking at international markets in order to offset the risks of banking only on the domestic market. Given the downturn in the Indian economy and the slow economic growth in the Indian automobile sector, the carmaker is planning to have a balanced portfolio in other countries as well, he added.
Mr. Slym stated that the company is developing new products that will be internationally capable and will enable entry into new markets. These products are being tested in numerous markets across the world.
Tata Motors has already entered the Indonesian and Saudi Arabia auto market and has businesses in Malaysia and plans for launches in Australia. The carmaker is looking for strong partners in new markets such as South America to enable smooth entry into these markets.
