Tata Motors is working on an upgraded version of the Nano destined for the European markets, India’s biggest automobile company by revenues said today, but declined to provide details of probable launch dates.
Buoyed by the revival in demand for the ultra-compact car in recent months despite a broader decline seen across several carlines, the Mumbai-based company has decided to push forward the Nano in developed markets, while also finalising plans for emerging markets.
Prakash Telang, managing director (India operations), said the company might look at a “very different vehicle” than the one currently on sale in India. “The Nano that is to debut in Europe will be significantly different, but will have same characteristics,” he added.
While the company declined to specify when the Nano would reach European shores, plans are also afoot to take the car to the US market. Considered to be the cheapest car in the world, it will carry a tag that will be at least four times the price in India, or at $7,000-$8,000. The company hopes to start selling the Nano in the US in the next three or four years.
Over the course of next one year, Tata Motors hopes to start retailing the Nano in Asian countries including Bangladesh, Indonesia, Myanmar and other countries forming a part of the Association of South East Asian Nations. Thailand will be the first country under the sales expansion plan.
Between April and November 2011, Tata Motors exported 1,728 units of the small car. The Nano is now being exported to Nepal and Sri Lanka. Telang said the company was not happy with the current volumes of export. “The potential is huge,” he noted. “We are exploring both the CBU as well as the CKD route to scale up our overseas footprint in the coming years.”
CBUs refer to exporting completely built-up units exported out of India, while CKD operations involve assembly of dismantled units on foreign shores.
