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A joint venture has been formed by the automotive giant Vectra Group with Russian truck maker Kamaz to manufacture the Russian range of heavy duty trucks in India at an initial investment of $13 million. Heavy duty trucks fall in the 13 tonnes and above category and this will be Vectra Group’s debut venture into this segment.
As per the joint venture, Vectra Group will produce 5,000 trucks over the next couple of years at its Hosur plant, which will be partly modified to make the Kamaz range. The Kamaz range will be multi-axle 6X4 and in the 8X4 class which do not get made in India.
The new joint venture intends to sell over 1,000 trucks this financial year and will seek to corner 10 per cent of the Indian market, according to Kamaz officials. The JV company also plans to sell some of the multi-axle trucks to the Indian armed forces, which already are buyers of Tatra trucks made by Vectra. The new JV will also target international armed forces.
The $800 million Vectra Group had picked up majority stake in Czech Republic-based Tatra in 2007. The “Tatra” truck is used by the Indian armed forces. With the new Russian alliance, Vectra Group has entered the heavy duty segment of side-board truck and heavy tractors where other giants like Tata Motors and Ashok Leyland are established.
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