Tata Motors today announced its partnership with DRB-HICOM, Malaysia’s biggest conglomerate, for the import, distribution and assembly of Tata Motors Commercial Vehicles in Malaysia, an important milestone in the continued expansion of the company’s global footprint.
As part of the agreement, Tata Motors today signed a Distribution Agreement (“DA”) and Technology License Agreement (“TLA”) with USF-HICOM (Malaysia) Sdn. Bhd., a subsidiary of DRB-HICOM Berhad. Tata Motors also signed another Importation Agreement (“IA”) with another DRB-HICOM subsidiary, DRB-HICOM Auto Solution Sdn. Bhd. (“DHAS”) and USF-HICOM.
Mr. RT Wasan, Head, International Business, Commercial Vehicles, Tata Motors said, “At Tata Motors we are proud to announce our partnership with DRB-HICOM, one of Malaysia’s leading corporations in the automotive space. It is an important one, giving the Malaysian customer competitive business advantages, through the introduction of the right kinds of commercial vehicle products and solutions, helping us service this market well.”
YBhg Tan Sri Dato’ Sri Haji Mohd Khamil Jamil, Group Managing Director of DRB-HICOM Berhad said, “It is indeed an honour for us that Tata Motors known to be among the world’s top truck and bus manufacturers, has chosen to partner with DRB-HICOM to start this new chapter in their engagement with the Malaysian market. Through our subsidiary, USF-HICOM, we at DRB-HICOM intend to establish the Tata Motors brand, and promote its products and services, providing the best customer experience”.
The signing of the strategic and dynamic partnership would pave the way for a mutually beneficial collaboration between Tata Motors and DRB-HICOM, and will offer various synergies for all parties involved. The agreements will enable DRB-HICOM via USF-HICOM to become the exclusive distributor of selected Tata commercial vehicles, as well as expand its vehicle assembly business and distribution network in Malaysia. Meanwhile, the Importation Agreement (“IA”) will enable DRB-HICOM via DHAS to become the exclusive importer and logistics service provider for Tata Motors Completely Knocked Down (“CKD”) and Completely Built Unit (“CBU”) vehicles in Malaysia.
About Tata Motors
Tata Motors is India’s largest automobile company, with consolidated revenues of Rs. 1,88,818 crores ($ 34.7 billion) in 2012-13. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, Spain, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 8 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top in passenger vehicles. It is also the world’s fifth largest truck manufacturer and fourth largest bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, CIS and Russia.
About DRB-HICOM Berhad
DRB-HICOM Berhad (“DRB-HICOM”) is one of Malaysia’s leading conglomerates with core businesses in the Automotive; Services; and Property, Asset & Construction sectors. With more than 80 active companies in its stable and over 52,000 employees group-wide, DRB-HICOM’s aim is to continue adding value and propelling the nation’s development. In the Automotive sector, DRB-HICOM is involved in the manufacturing, assembly and distribution of passenger and commercial vehicles, including the national motorcycle. In Services, DRB-HICOM is involved in various businesses, including 3 concession and financial-related services. In Property, Asset & Construction, DRB-HICOM is involved in residential and commercial developments.
