Industry News
Tata Motors’ '1-lakh car' may be unveiled in January
5th June 2007
Tata Motors is set to unveil the world’s cheapest car as early as next January, the Indian carmaker’s MD Ravi Kant told the Financial Times (3 June). Tata’s budget four-door car, expected to sport a rear-mounted 30hp diesel engine and to be priced within reach of families otherwise restricted to motorcycles, is targeted to cost Rs 1-lakh (Rs100,000 - approx £1,250) in India, and may reach the Indian market by the third quarter of 2008.
Tata is meanwhile also developing more conventional small and medium size models to expand its range.
Also from India, the FT reported that Bharat Forge, India’s largest automotive supplier, may spend as much as $250m – primarily on overseas acquisitions – in a bid to diversify into components for other sectors, including aerospace and energy.
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