Less than a year after its launch, Tata Motors' small car, Nano, is likely to go in for a new avatar: a hybrid version. The world's cheapest car is also getting an exterior facelift, the Financial Express has said.
Talks of an electric version of the Nano have been in the air for a while now, and on Monday, Ratan Tata, chairman of Tata Motors, expressed his interest to make his dream project join the environmental-friendly trend to a South Korean newspaper, the FE said.
However, the chairman did not elaborate on the possible timeline for the launch of the cheap hybrid versions.
Till October, the company had delivered 10,518 units of Nano. The delivery of the small car started in July this year.
At the 63rd annual general meeting of the company in Mumbai, the chairman had hinted at the subject and talked about the progressing work at the company on alternate fuel technology, including hybrids.
He had said, "We are working on an eco-car in Thailand, electric vehicles and hybrids."
The company, which is in favour of using bio-diesel and ethanol across the board, had also talked about a car project it is working on with a French company, which will run on compressed air. He, however, expressed doubt about the project, saying "it may or may not happen".
Further, the newspaper said Tata Motors is considering exporting is light truck Ace to South Korea, and is also assembling or manufacturing the model at its South Korean plant.
Further, Tata was quoted saying that the group is interested in Vietnam and evaluating the US market, in which it is yet to make active investments.
The Indian conglomerate is also studying investments in automobiles, software and hotel businesses, as well as biofuel in South American markets such as Brazil and Argentina.
Tata Motors shares closed 4.99 per cent higher at Rs 660.90 on Monday on the BSE.
