Tuesday, March 25, 2008

Fiat, Tata Motors JV to raise investment to $1 billion at the Ranjangaon facility in Pune

The Indian joint venture of Italy's Fiat and India's No. 3 car maker, Tata Motors plans to raise total investment to $1 billion to expand a unit for cars and engines at Ranjangaon near Pune in western India, the firms said on Monday.

Fiat India Automobiles, the equal joint venture, will spend 23.41 billion rupees ($581 million) to double output to 200,000 cars in four years to meet rising demand in India and for exports.

It will also expand engines and transmissions output to 300,000 units from 200,000 and also boost parts and accessories in four years.

Fiat currently makes the Palio hatchback at the plant and has finalized plans to start producing the Linea sedan and the Grande Punto.

Monday, March 24, 2008

Bookings for Nano are expected to start 3 months from now

Nano would be manufactured at the company's upcoming facility in Singur, West Bengal and is expected to roll out from the factory in October. Bookings for Nano are expected to start three-months from now.

As part of phase I, Tata Motors would manufacture 2.5 lakh Nanos and in phase II it would ramp up its facility in Singur to 1 lakh more.

Nano's ex-factory price is Rs 1 lakh, making it the world's cheapest car.
Tata Motors forms team to cut cost of Nano-The Economic Times