Excited about the launch of the people's car, the Nano, Tata Group Chairman Ratan Tata said on Monday the project was not conceived to satisfy his ego, nor was the Rs 1 lakh (Rs 100,000) pricing a "gimmick."
"I am very satisfied and excited about this launch today and the Nano is not for my ego trip... certainly, not an ego trip at all," Tata said at an editors' meeting in Mumbai.
The price of Rs 1 lakh was announced six years ago when the plan for the Nano was unveiled at an European motor show, he said. He added the fact that the company has kept its promise goes to show that it was not a "gimmick."
The first 1 lakh customers, who would be picked up through a draw of lots from the bookings made between April 9-25, will be sold the car at the price that would be formally announced soon, he said. This was despite the fact that cost of steel and other materials had gone up, he said.
The car has 21 per cent more space than the smallest car available now and 12-13 per cent more than other small cars in the country, he said.
Asked after launching the cheapest car, would he now be going in for the cheapest truck or an SUV, Tata replied in the negative. "The quest for the cheapest truck or SUV does not arise," he said.
To a question as to what could be his next dream, Tata said that he has not given a thought to it at the moment.
"I don't rule out anything or necessarily commit," he said, when asked if he still would set up a Nano plant at Singur (West Bengal) from where the company was forced out due to political opposition last year.
The company was committed to setting up a cancer hospital in West Bengal, he said, adding that some of the manufacturing facilities and sheds at Singur were still there.