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Ratan Tata Confirms Nano's International Dreams
Mr Ratan Tata while speaking at the company's AGM said: “We are already selling the Nano in Sri Lanka and Nepal. We are also looking at assembling facilities for this, possibly in Indonesia and in some parts of Eastern Europe." Mr Tata did not specify which European country will house the Tata Manufacturing facility.
Tata Motors also wants to assemble its vehicles in Latin America, probably in Brazil. Tata Motors is keen to expand it presence in the global markets especially in emerging countries. While Europe and North America have established markets, emerging markets show more potential for growth.
Tata Motors had earlier displayed an European version of the Tata Nano called the Europa. The car has already undergone safety testing and has obtained a respectable score for a small car.
The Tata Nano has already made its international presence felt after being sold in Sri Lanka and Nepal. Tata Motors intends to export the Nano to more neighbouring countries which do not have high import duties.
On the company's JV with the Italian company Fiat, which is still making losses, Tata said, "Yes, the Fiat JV is showing losses. Assumptions (made while starting the JV) in terms of volumes didn't work out, more so for Fiat than for us because there was a downturn and they made an assumption on off-take which did not materialise.
"Well, as we are 50 per cent owners, we have had to share in losses of the company. Both Fiat and we are having a re-look at the whole contractual undertaking to see whether we can make it more realistic. So, I hope we will be able to resolve that in course of time".
Tata also said the company planned to introduce its electric cars in Britain and Norway shortly.
He further said that the auto major is planning to sew together a joint venture in China for assembling the Range Rovers, besides exploring the possibility of setting up a joint engine project with Jaguar.
The Tata Group bought the British marquees Jaguar Land Rover brands from Ford Motor a few years back and had successfully revived the company and today almost 60 per cent of Tata Motors' sales come from this business.
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