As part of its business expansion plan, TMT Joint Stock Company signed a Distribution Agreement, Supply Agreement and Technology License Agreement with Tata Motors Ltd., India.
The agreements will enable TMT to become the distributor of selected Tata Motors commercial vehicles, as well as expand its vehicle assembly business and distribution network in Vietnam.
Tata Motors will supply Completely Knocked Down (CKD) and Completely Built Unit (CBU) vehicles to TMT in Vietnam, enabling TMT to further strengthen its position, in the local automotive industry.
The signing of the strategic and dynamic partnership would pave the way for a mutually beneficial collaboration between Tata Motors and TMT JSC, and will offer various synergies for all parties involved.
The strategic partnership between TMT JSC and Tata Motors is a new beginning for a mutually beneficial relationship between the two companies. The milestone also further signifies TMT's commitment to its CKD operations in Vietnam, not only strengthening its position in the Vietnamese market, but also in the region.