Daewoo Commercial Vehicle Company has been rechristened as Tata Daewoo Commercial Vehicle Company Ltd (TDCV). Simultaneously, Ravi Kant, who heads Tata Motors’ commercial vehicle business has been nominated as chairman of TDCV. 

Kwang-Ok Chae would be the CEO and president, while Praveen Kadle has been appointed on the board of the company, according to a Tata Motors release. 

The first model after the Tata takeover — a heavy-duty truck model called Novus — has also been introduced in the Korean market. 

Unveiling the new product, Tata Motors chairman Ratan Tata said: “We are very pleased that a new vehicle complying with Euro III regulation is being launched by TDCV. It will strengthen the company’s product offerings and enable it to compete well in Korea and beyond Korea in other international markets.” 

The model is fitted with Bosch’s common rail fuel injection system for the first time in Korea and a new engine that satisfies Euro III as well as Korea 2004, an environmental regulation to be applied to medium to heavy-duty trucks and buses, the release said. 

Starting this July, medium to heavy-duty trucks and buses in Korea have to adhere to — Korea 2004, an environmental regulation which will ban production of vehicles that mount normal Euro II engines. This standard is more rigid than Japan’s, and is similar to Euro III. 

The company has plans to export vehicles to Middle East, Africa and Asia and is aiming for a market share in excess of 30 per cent in the Korean heavy truck segment. 

“Novus is an excellent truck that is being put on sale in the Korean market for the first time since Daewoo joined Tata Motors which is the sixth largest commercial vehicle manufacturing firm in the world. We expect to launch more products in the near future. It is being ensured that over 150 Tata Daewoo Sales, Service & Parts offices through the country would provide efficient services to our esteemed customers and set new standards of customer satisfaction and delight,” added Mr Chae.