Nano bookings yield Rs2500 crore harvest
26 August 2009
Group chairman Ratan N Tata said the comopany has collected Rs2,500 crore through bookings for the Nano alone. He said the Nano plant, which was shifted from Singur in West Bengal to Sanand in Gujarat, is expected to be operational by January 2010, adressing the shreholders at the company's annual shareholder meeting.
The company, however, has not sold the land it had bought in Singur. Tata also indicated that in future, if circumstances permitted, Tata Motors may enter West Bengal again.
On export prospects, he said, ''We have already announced that we would launch the Nano Europa in 2011-12. Asian and African markets have expressed interest in the Nano. We will launch the Nano in South America on our own or through Fiat.''
Tata said the company had held talks with Fiat on retailing the Nano in Latin America which, however, was ''also going through a downturn''. Tata Motors has invested Rs640 crore in a joint venture with Fiat to produce cars at a plant near Pune.
The company is also upgrading production keeping in mind the new emission standards (Bharat Stage IV) to become effective April next year. On emission reduction efforts at JLR, Tata said, ''JLR has a greater problem than we do as their vehicles are heavy consumers of fuel. They have a five-year programme to take care of this.''