Tata Motors on Friday announced setting up of a joint venture with Brazilian company Marcopolo for manufacturing fully-built buses for which a plat will be set up in India with an estimated cost of Rs 200 crore (Rs 2 billion).
Marcopolo has got four manufacturing facilities in Brazil and one each in Portugal, Argentina, Mexico, Colombia and South Africa. India will be its tenth production base.
Tata Motors revealed its plans of introducing more vehicles this year. It is also planning to increase its exports to South Africa.
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