Tata Motors will develop a new model of the Nano, the world’s cheapest car, which will meet all Euro V emission regulations and the safety standards in Europe and plans to export it to countries in Africa, Latin America and Southeast Asia in 4 years time.
Till that time they plan to focus on the home market where they’ll be initially producing about 2,50,000 Nanos and eventually expect the annual demand to go upto 1 million units.
“The main target for the company will be to reduce the car’s fuel consumption to three from currently five litres per 100 kilometres,” Mr. Girish Wagh, the head of compact car projects at Tata Motors was quoted as saying.