Tata showcases a $4.6-million gold-plated Nano
20 September 2011
Tata Motors recently unveiled the `GoldPlus Nano' in Mumbai amidst much public frenzy. The car, which is plated with 80 kg of gold and 15 kg of silver, also has 10,000 pieces of gems and precious stones inside.
However, the gold version is not for sale and would serve only as a memento.
The lifestyle and jewellery arm of the Tata Group, Titan Industries, spent Rs26 crore in raw material cost (80 kg gold, 15 kg silver and 10,000 semi-precious and precious stone) to create the gold plated Nano.
It has plans for spending Rs200 crore for expansion next fiscal and hopes to close this fiscal with a top line of about Rs9,000 crore.
"The capex this year is Rs238 crore...this will be about Rs200 crore (next fiscal). We have not planned for next year yet, but I suspect it will be something like that," Titan Industries managing director Bhaskar Bhat said.
He was interacting with reporters on the sidelines of an event of its mass market jewellery brand GoldPlus in Mumbai, where it showcased the gold-plated Nano.