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All technologies pertaining to existing bus body products manufactured will continue to vest with TMML. Post the purchase, TMML will become a wholly owned subsidiary of the Company.
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have entered into a share purchase agreement where the Company will purchase the balance 49% shareholding in TMML for a cash consideration of INR 99.96 crore.
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In a statement to the press announcing the decision, Tata Motors said, "The Company and Marcopolo S.A. As mentioned above, these buses are retailed under the 'Starbus and Starbus Ultra bus brands in the country. TMML has manufacturing facilities in Dharwad, Karnataka and Lucknow where it makes bus bodies underpinned by chassis supplied by Tata. Since then, myriad designs and concepts for the premium bus body segment were launched by this joint venture in India. Now, if you are wondering the reason behind the decision - Tata Motors explained that it is a result of Marcopolo S.A.'s new business strategy.Ī little bit of background about this joint venture, of course: Tata Motors and Marcopolo S.A., among the largest bus and coach manufacturers in the world, formed this 51:49 joint venture in 2006. Once the purchase is executed, Tata Motors will become the sole owner of the Tata Marcopolo Motors Limited joint venture. So, what's going to happen is that Tata Motors will buy out Marcopolo S.A.'s stake in the JV for ₹99.96 crore. Yep, Tata Motors has announced that it will now buy out Marcopolo's share in this joint venture that builds and sells buses under the umbrella of the Starbus and Starbus Ultra brands. to exit bus joint venture with Tata MotorsĢ020 has taken its latest victim in the automotive industry - the Tata Marcopolo Motors Limited joint venture. Dharwad manufacturing unit employs around 3,000 employees and has production capacity of 15,000 buses per annum.Marcopolo S.A. Tata Marcopolo Magna luxury buses are being produced from the company’s Dharwad plant in Karnataka while the chassis are being procured from Tata Motors Pune plant. The HCV range, launching later, will sport 230-280 hp engines. The two axle ICV buses will be powered by 120-150 hp motors while the MCV range will receive 150-230hp motors. Tata Marcopolo two and three axle buses will be competitively priced in a range of INR 45-50 lakhs. The buses will also have two 5 kg fire extinguishers as per safety regulations.
MARCOPOLO BUS IN INDIA WINDOWS
In a 2×2 seating layout, the buses will sport mobile charging points in each row while on the safety front, the buses will have an emergency door at the right hand rear while two windows on either side will also be emergency exit points. Tata Marcopolo Magna luxury buses will also sport a fiber roof instead of metal so as to adhere to latest safety norms. But seeing the increase in demand for luxury buses, the launch has been pre-poned. Earlier, the plan was to launch these buses in 2016. The two axle buses will measure 12,000mm long, 3,800mm tall and 2,600mm wide and will be built of GI tubular structure with fire retardant marine plywood and 12mm skid proof vinyl flooring. These luxury buses with seating capacity of 30-50 persons will be spacious and with improved structure so as to cater to the demands of long road travel in the country. Three axle buses are currently under development and will be launched later in the HCV class in 2016. The two axle air conditioned luxury buses being launched first to be launched in two different sizes in the ICV class and MCV class.
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The first batch buses under the partnership with Marcopolo of Brazil will be launched in India later this year.