Tatas Vying To Partner Toyota

Tatas are trying to rope in Japanese automobile major Toyota Motor Corp, which has been looking for a partner to set up a joint venture in India.

The move, which might embarrass the Pune-based $1 billion Kirloskar group with whom the Toyota group has been negotiating, has come as a surprise. We have to select from five major automobile companies, including the Tatas and Kirloskars, Mineo Nagata, a senior managing director of the Toyota group, said in an interview here.

Kirloskar Electric was not finalised for the joint venture as made out in a section of the press, Nagata said, clearing the air about the selection of the joint venture partner for his company.

The $20 billion Tata Engineering and Locomotive Company (Telco) has also submitted a proposal, and was being considered along with those of Kirloskar and three other companies.

Refusing to name the three companies for