Tata Motors[1]
has unveiled
the world's cheapest motor car at India's
biggest car show in the capital, Delhi.
The vehicle, called the Tata
Nano, will sell for 100,000 rupees or $2,500 (£1,277) and enable those in
developing countries to move to four wheels. The four-door five-setter car, which goes on sale
later this year, has a 33bhp, 624cc, engine at the rear.
It has no air conditioning, no
electric windows and no power steering, but two deluxe models will be on offer.
Here are the features that
makes Tata Nano so cheap: Tata will initially make about
250,000 Nanos and expects eventual annual demand of one million cars. The price will be slightly more than the 100,000 once tax and other
costs are taken into consideration.
The Nano release comes as India's
domestic car market is predicted to soar in the coming years on the back of the
country's fast-growing economy
and increased consumer wealth.
Company chairman Ratan Tata
said the launch of the Nano was a landmark in the history of transportation. He said the car was "a
safe, affordable and all weather transport - a people's car, designed to meet
all safety standards and emissions laws and accessible to all".
Environmental critics have
said that the car will lead to mounting air and pollution problems on India's
already clogged roads. But Tata said the car had
passed emission standards and would average about 50 miles to the gallon, or
five litres per hundred kilometres. The firm also said it would
introduce a diesel version of the Nano at a later date.
'Family transport'
At
the unveiling ceremony Mr Tata said: "I observed families riding on
two-wheelers - the father driving the scooter, his young kid standing in front
of him, his wife seated behind him holding a little baby.”
"It led me to wonder whether
one could conceive of a safe, affordable, all-weather form of transport for
such a family."
Tata Motors' engineers and
designers gave their all for about four years to realise this goal.
"Today,
we indeed have a People's Car, which is affordable and yet built to meet safety
requirements and emission norms, to be fuel efficient and low on
emissions."
Ravi Vangala, of Hyderbad, India,
said: "I... congratulate Tata for his dream, and I will definitely buy the
Tata Nano car."
NOTES:
1) Tata Motors Limited, formerly known as
TELCO (TATA Engineering and Locomotive Company), (nyse: TTM) - is India's
largest passenger automobile and commercial vehicle manufacturing company. It
is a part of the Tata Group, and has its headquarters in Mumbai, Maharashtra. One of
the world's largest manufacturers of commercial vehicles and known for its
hatchback passenger vehicle Tata Indica, Tata Motors has its manufacturing base
in Jamshedpur, Lucknow,
Pune and Singur. The OICA ranked it as the world's 21st largest vehicle
manufacturer, based on figures for 2006.Tata Motors was established in 1945, when the company
began making trains. Tata Motors was first listed on the NYSE in 2004. Tata
Motors had created the wealth Rs. 320 billion during 2001-2006 and stood among
top 10 wealth creators in India.
In 2004 it also bought Daewoo's truck manufacturing unit, now known as Tata
Daewoo Commercial Vehicle, in South Korea.
In March 2005, it acquired a 21% stake in Hispano Carrocera SA, giving it
controlling rights in the company. On 10 January 2008, Tata Motors launched
their much awaited Tata Nano, noted for its Rs 100,000 price-tag, at Auto Expo
2008 in Pragati Maidan, Delhi.Tata Motors is a company of the Tata
and Sons Group, founded by Jamshetji Tata. It is currently headed by Ratan Tata.The company has the workforce of
22000 employees working in its three plants and other regional and zonal
offices across the country.Tata Motors' range of passenger cars is still not comprehensive by
international standards. In commercial vehicles, Tata Motors commands an
imposing 65% market share in the domestic heavy commercial market. The company
is trying to modernise its range of commercial vehicles. Tata Motors hived off
its vehicle finance business into a separate subsidiary, TML Financial Services
(TMLFS), in September 2006.
Tata Motors[1]
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