After proving its engineering capabilities through Nano, the cheapest car in the world, Tata Motors, India's largest automotive company, has set its sight on electric cars.
At the company's annual general meeting, chairman Ratan Tata told shareholders that Tata Motors was doing an electric car project in Norway. The electric car will be launched in Norway this fiscal and will go to other markets, including India, thereafter.
He, however, did not provide other details such as investment size, initial capacity and vehicle specifications. Managing director Ravi Kant said that the company would initially manufacture the yet-unnamed electric car in Norway.
This is the second electric vehicle that the company is exploring. Earlier, it inked a development contract with Chrysler's electric vehicle unit Global Electric Motorcars (GEM) to develop and market an electric version of its light commercial vehicle Ace for sale in the United States.
Tata Motors' entry is likely to stir the small electric car market currently dominated by Reva, which till date has sold 2,500 units, including 1,000 in the UK.
Anticipating demand due to soaring fuel prices, Reva is hiking capacity to 30,000 units by December from 6,000 now.
Ratan Tata said his company was working on developing more fuel-efficient cars such as eco-friendly car in Thailand – 'a more fuel-efficient Nano' – and a compressed air vehicle.
The auto major has bid for Thailand's 'Eco Car' project, which involves designing and manufacturing of Euro IV-compliant cars of under 1.4-litre engine capacity, emitting under 120 gm of carbon dioxide per km.
Tata Motors Ltd, India's top vehicle maker, is looking at launching an electric car and other fuel-efficient vehicles, its chairman said on Thursday.
"The company, which is set to roll out the world's cheapest car, would also expand its presence in the defence equipment business," Ratan Tata said at the annual shareholders' meeting.
Thursday, June 4, 2009
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