After the takeover of Daewoo's truck division in South Korea, Tata group has changed its name to Tata Daewoo Commercial Vehicle Co Ltd and nominated Ravi Kant as chairman even as it introduced a heavy-duty truck model Novus for the Korean market.
Kwang-Ok Chae would be the CEO and president, while Praveen Kadle has been put on the board of the company, it said in a release.
It has applied Bosch's common rail fuel injection system for the first time in Korea for Novus and developed a new engine that satisfies Euro III, Korea 2004, an environmental regulation to be applied to medium to heavy-duty trucks and buses, the release said.
"The new vehicle complying with Euro III regulation would strengthen the company's product offerings and enable it to compete well in Korea and other international markets," Tata Motors chairman Ratan Tata said.
The company has plans to export vehicles to the Middle East, Africa and Asia.
The high performing electronic engine mounted on Novus is specially designed to meet the rigid environmental standard of Euro III and compete in international markets, the release added.
