Tata Motors signs deal with Vietnam's TMT Motors for local assembly, GM considers halting vehicle production in Vietnam

Tata is planning to achieve a localisation rate of about 40% within five years.

India's Tata Motors has signed a deal with Vietnamese automaker TMT Motors for the local assembly and distribution of its vehicle line-up in the country, reports local publication Tuoi Tre News. Tata is expected to sell its commercial vehicle line-up in Vietnam initially, such as buses and vans, as early as August, while the report also mentions possible local assembly and sales of passenger cars, including the Nano small car. Tata is planning to achieve a localisation rate of about 40% within five years in Vietnam, according to the report. The size of the deal has not been disclosed.