Auto major Tata Motors today said its wholly-owned European subsidiary, Tata Motors European Technical Centre, has got a loan of 10 million pounds (Rs 78 crore) from the UK government for its Rs 195 crore electric car project.     

The loan is under the UK government's Automotive Assistance Programme (AAP), to develop and manufacture the Tata Indica Vista Electric Vehicle in the UK with an investment of 25 million pounds (about Rs 195 crore), the company said in a statement.     

BSE  |  NSE Price

Also Read   Related Stories News Now - Auto, IT stocks rally past Jan 08 peaks ahead of Sensex - Tata Motors to launch Freelander SUV on Sep 22 - Mahindra & Mahindra director sells 8k shares - Tata Motors sells half its holding in Tata Steel to Tata Sons - Tata Motors raises Rs 236 cr via share sale in Tata Steel - Tata Sons revokes 4.1 mn pledged shares of Tata Motors

Also Read   Related Stories News Now - Markets post worst May performace since 2006 - Royal Dutch Shell, RPower to set up LNG terminal in AP - ECB, EU officials warn euro's survival at risk - Star News to be known as ABP News from tomorrow - IIT alumni to move court on changes in JEE More

UK-based Tata Motors European Technical Centre (TMETC) is engaged in design engineering and development of automobiles.     

The loan comes almost a month after Tata Motors abandoned seeking help from the UK Government for bailing out Jaguar Land Rover (JLR).     

JLR secured long term loan of 340 million pounds (about Rs 2,650 crore) from the European Investment Bank (EIB).

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets post worst May performace since 2006 - Royal Dutch Shell, RPower to set up LNG terminal in AP - ECB, EU officials warn euro's survival at risk - Star News to be known as ABP News from tomorrow - IIT alumni to move court on changes in JEE

Tags : Tata Motors | auto major | uk govt | AAP | loan   Read Business news in  Advertisements -  India's no. 1 Property Site. Click here to know more -  "Discover The Power of One" -  Help a Child Achieve her. Click to know more -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Learn How One City is Running on FOOD SCRAPS. -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More -  2 Lac Apartments, 1 Lac House / Plots. Click here