ata Motors European Technical Centre
MUMBAI: Auto major Tata Motors on Friday said its wholly-owned European subsidiary, Tata Motors European Technical Centre (TMETC), has received a loan of £10 million (approximately Rs 80 crore) from the British government to develop an electric vehicle in the UK for a total investment of £25 million (Rs 195 crore).
The loan is under the foreign government’s automotive assistance programme (AAP) that is meant for developing cars on fuel-efficient technologies. The company will develop and manufacture the Tata Indica Vista Electric Vehicle in the UK.
“The Tata Indica Vista EV will be the first four-seater electric car with a range of up to 200 km to become available this year in Europe,” the company said in a statement. The pricing of the car will be announced closed to the launch. The vehicle will be launched in India later.
Tata Motors will send the Indica Vista from India to TMETC which will power the car with batteries from Miljobil, the Norwegian subsidiary of Tata Motors. Tata Motors is also working on development of hybrid cars.
The loan comes a month after Tata Motors said it would not need the UK government support for the revival of Jaguar Land Rovers (JLR). Instead, it is organising a loan of £340-million (Rs 2,700 crore) from the European Investment Bank.
Set up in 2005, TMETC is engaged in design, engineering and development of automobiles and works synergistically with Tata Motors R&D centres in Pune, Lucknow, Jamshedpur and Korea. It has 180 employees
The loan is under the foreign government’s automotive assistance programme (AAP) that is meant for developing cars on fuel-efficient technologies. The company will develop and manufacture the Tata Indica Vista Electric Vehicle in the UK.
“The Tata Indica Vista EV will be the first four-seater electric car with a range of up to 200 km to become available this year in Europe,” the company said in a statement. The pricing of the car will be announced closed to the launch. The vehicle will be launched in India later.
Tata Motors will send the Indica Vista from India to TMETC which will power the car with batteries from Miljobil, the Norwegian subsidiary of Tata Motors. Tata Motors is also working on development of hybrid cars.
The loan comes a month after Tata Motors said it would not need the UK government support for the revival of Jaguar Land Rovers (JLR). Instead, it is organising a loan of £340-million (Rs 2,700 crore) from the European Investment Bank.
Set up in 2005, TMETC is engaged in design, engineering and development of automobiles and works synergistically with Tata Motors R&D centres in Pune, Lucknow, Jamshedpur and Korea. It has 180 employees
ET
No comments:
Post a Comment