Sunday, September 6, 2009
Tata Motors lines up Rs 160 cr electric Indica Vista project
Indica Vista will, this year, become the second electric car
to be exported from India since the Maini Group started selling its Reva as G-Wiz in Europe about five years ago
Tata Motors will soon roll out its £20-million (Rs 160 crore) electric car project in Norway and later scale it up for other Scandinavian markets. The Indica Vista EV has been designed and developed by Tata Motors' UK subsidiary, Tata Motors European Technical Centre.
The project involves assembling the car in Norway from semi-knocked down kits imported from India, an application by Tata Motors to the commerce ministry said. It is confident that the project will turn profitable within four years of start of production. However, there is no plan to introduce the electric variant in India, a Tata Motors official told ET NOW. "In future, Indica Vista EV could be manufactured in India if sales volumes justify," the company said in its application to the government.
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