Tata Motors to launch Rs. 1 Lakh car by 2008

Tata Motors has confirmed in a statement that they are on schedule to launch their ambitious Rs. 1 Lakh car by 2008. The company added that they have completed its styling and designing and are testing the prototypes within the plant.

Tata Group Chief Ratan Tata added that this new cheap car would create a brand new segment in the Indian market and would provide a cheap means of transport for the people in the country.

The company said in the statement released to the media: “The styling and designing of the car have been completed and prototypes are being tested in the plant. It will be a rear engine, 4-5 seat, four-door car with about a 30 horsepower engine.”

Tata Motors now plan to shift the manufacturing capabilities of this car to their new plant coming up in the West Bengal state.