Tata Motors planning to launch electric cars

Mumbai: Tata Motors Ltd is planning to launch an electric car and a slew of other fuel-efficient vehicles, chairman Ratan Tata told shareholders at the company's annual general meeting.

Tata Motors, India's largest automobile company, is set to roll out the world's cheapest car. The company is also planning to expand its presence in the defence equipment business, Tata said.

Tata Motors is due to launch the world's cheapest car  - the `Nano' - in September this year.

A leader in commercial vehicles, Tata Motors is also the second largest passenger vehicle manufacturer in the country.

Weighed down by rising oil prices and amidst rising concerns of environment pollution, vehicle makers the world over are shifting to fuel-efficient and greener electric models to beat the slump.

Two of America's largest car manufacturers – General Motors and Ford Motor Co – are shifting production to smaller cars and models that work with electricity.