Tata Motors Exploring Electric Car Launch

July 24, 2008

Company also expects demand for its 'Nano' model to outstrip supply when it's launched later this year

Indian truck and car-maker Tata Motors is looking to launch an electric and other fuel efficient cars, its chairman Ratan Tata said at the company's annual general meeting on July 24.

He also told shareholders his firm expects demand for its budget 'Nano' model -- a jelly bean-shaped, no-frills car priced at $2,500 -- will outstrip supply when it is launched later this year.

Tata Motors announced in June it had completed its acquisition of Jaguar and Land Rover from Ford for $2.3 billion in an all-cash transaction. The purchase is part of Tata's bid to expand its reach beyond Asia.

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