Admitting that the joint venture between Tata Motors and Fiat has not been as active as planned, Tata Group chief Ratan Tata said the association needs to be critically examined to optimise its potential.
"I have to admit that so far, the venture with Fiat has not been as active as we had thought," Tata said in 'India Automotive 2020: The Next Giant from Asia'.
With Fiat yet to make its mark in the Indian car market, Tata said the Italian company needed to bring in more new models.
"I think that Fiat has to launch more models into the market to keep dealers interested. It also has to look at its cost structure in terms of parts and components. So the joint venture needs to be looked at quite critically and until that happens, it's not going to be optimised," he said.
As part of a 50:50 joint venture agreement signed in 2007, the two companies had agreed to a joint distribution network and back-end support, besides co-manufacturing
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