A new partnership between local automotive firm Tsapo Group of Companies and Ashok Leyland, one of India's leading commercial vehicle manufacturers, has been sealed with a distributorship license.
The deal, launched last Thursday, will see Tsapo Group become the exclusive distributor of Ashok Leyland products in Zimbabwe, expanding its portfolio of brands that includes Lovol, Green Energy (BYD), FAW, Sinotruk and Golden Dragon.
Addressing attendees during a handover ceremony at Tsapo's offices in Harare, the group’s chief executive officer Patrick Masocha said it was a timely boost for them and a symbol of the strong ties between Zimbabwe and India.
"This strategic partnership is a significant milestone for both companies and countries. It is a testament of a shared vision of growth and innovation," Masocha said.
“This partnership will continue to create job opportunities for the people of Zimbabwe. It has allowed us to play our part towards attainment of vision 2030 (national blueprint) which seeks to create an upper middle-class economy by 2030”.
He added that the collaboration would springboard both automotive giants, as Ashok Leyland has a global presence and reputation, while Tsapo Group has diverse business interests in automotive, mining, and agriculture.
Speaking at the same event, Ashok Leyland's Head of Africa International Operations, Sachin Dasharath said they had been impressed with Tsapo Group’s professionalism and expertise and hence the deal.
"It's been a great journey since we decided to engage with Tsapo Group to explore business opportunities for Ashok Leyland,” Dasharath said.
“We are here today because Tsapo Group has created high quality infrastructure for selling Ashok Leyland and we really value their association with us,” said Dasharath.
Meanwhile, Indian ambassador to Zimbabwe Vijay Khanduja said the partnership would bring success to both companies involved.
“The word Ashok means devoid of sorrow (and) where there is no sorrow there is only happiness.
“I’m sure the presence of Ashok Leyland here will only bring prosperity and happiness not just to the groups involved but also to Zimbabwe,” said Khanduja.