The Daewoo acquisition was a historic event for Tata Motors. How did it come about?
It was a huge opportunity to get into a fairly advanced market like Korea. Besides, there were tremendous synergies between the two companies in terms of product strategy, international marketing and R&D. Daewoo’s products dovetailed perfectly with our existing portfolio. Tata Motors has been working on a world truck for India and international markets. We now have the base to build it, rather than starting from ground zero. The merger has made it possible to enter the market 2-3 years early. The risks are reduced, as we have access to their experience. We should come out with our world truck by around 2008. Before that, by end-2005 or early 2006, we should come out with a large truck for the Indian market. It will be a collaborative effort between India and Korea. What were the challenges in clinching the deal? Tata Motors was one of 10 bidders, including Chinese and European companies. Initially, we faced some difficulty in being accepted as a serious bidder. I think the one thing th
