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| Kim Jong-shik, president and CEO of Tata Daewoo | ||
Kim Jong-shik, president and CEO of Tata Daewoo, said the company was also considering shipping to Europe complete-known-down, or CKD kits, that can be assembled into vehicles.
"There are limits to shipping fully assembled vehicles (to Europe)," 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. The passenger vehicle unit of Daewoo Motor is now GM Daewoo Auto & Technology, the South Korean unit of U.S. automaker General Motors Co.
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 percent.
The company is currently placed second with about a 30-percent 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 160.5 million won (US$143,770) with that of the 25.5-ton ultra dumpster set at 180.4 million won.
When asked if Tata Motors was planning to bring its $2,000 passenger vehicle Tata Nano to South Korea, Kim said there are no immediate plans to introduce the vehicle here, but that his company may consider doing so in the future as "so many people want the vehicle."
[English News Team]
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