Tata Motors has, today, been intimated that it has been selected as the 'preferred bidder' for acquiring the Daewoo Commercial Vehicle Company Limited, (DWCV), Korea. The 'preferred bidder' status would require it to enter into a Memorandum of Understanding to be negotiated with DWCV, followed by a detailed due diligence process.

DWCV, the commercial vehicle unit of the Daewoo Motor Corporation, was incorporated under a reorganisation plan on November 1, 2002. It is currently the second largest manufacturer of heavy commercial vehicles in Korea, with a market share of around 26 per cent.