Bangkok--24 Feb--DC Consultants and Marketing Communications
Tata Motors’ UK subsidiary, Tata Motors European Technical Centre plc, has acquired a 50.3% holding, at an acquisition cost of Kroner 12 million (Rs.9.40 crores), in Miljo Grenland/Innovasjon, Norway, which specialises in the development of innovative solutions for electric vehicles. The balance of shares will be retained by the existing shareholders who will continue to be associated with the venture.
Miljo will produce electric vehicles based on Tata Motors’ products, besides manufacturing of state-of-the-art super polymer lithium ion batteries and the development of related technologies. Tata Motors believes that this investment in Miljo will help the company realise its strategy to develop convenient, affordable and sustainable mobility solutions through electric and hybrid vehicles.
The first such vehicle to be developed by the company will be the Indica EV. It is scheduled for launch in Europe during 2009. Unlike existing electric vehicles, Indica EV will be a more practicable option for the consumer: capable of carrying 4 people, adequate luggage space, with a predicted range of up to 200 km and acceleration of 0-60 kmph in under 10 seconds. As in the Nano, Tata Motors continues its innovative approach with Indica EV too, using super polymer lithium ion batteries which will have superior energy density compared to the current best-in-class electric vehicles.
About Tata Motors (Thailand)
Tata Motors (Thailand) Ltd. is a subsidiary of Tata Motors Ltd., India's largest automobile company with revenues of US $ 8.8 billion in 2007-2008. With over 4 million Tata vehicles plying India’s roads, it is the leader in commercial vehicles and second in passenger vehicles. It is also the world's fourth largest medium and heavy truck manufacturer and the second largest heavy bus manufacturer.
Tata cars, buses and trucks are marketed in Europe, Africa, the Middle East, South Asia, South East Asia and South America. Tata Motors and Fiat Auto have formed an industrial joint venture in India to manufacture passenger cars, engines and transmissions for the Indian and overseas markets. Tata Motors also has an agreement with Fiat Auto to build pick-up vehicles in C?rdoba, Argentina. The company already distributes Fiat branded cars in India.
Tata Motors’ international footprint includes Jaguar Land Rover, a business comprising the two iconic British brands, Tata Daewoo Commercial Vehicle Co. Ltd. in South Korea; Hispano Carrocera, the Spanish bus and coach manufacturer in which the company has a 21per cent stake; a joint venture with Marcopolo, the Brazil-based body-builder of buses and coaches. In 2006, Tata Motors entered into joint venture with Thonburi Automotive Assembly Plant Company of Thailand to manufacture and market the company’s pickup vehicles in Thailand. The new plant of Tata Motors (Thailand) has begun production of the Xenon pickup, with the Xenon being launched in Thailand at the Bangkok Motor Show 2008. Tata Motors also has research centres in India, the U.K. and in its subsidiary and associate companies in South Korea and Spain.
Issued by: Sompong Polchitcharoon
General Manager (Marketing), Tata Motors (Thailand) Ltd.
http://www.tatamotors.co.th
Call Center: 1800 999 900
1401 999 900 (from mobile phone)
For more information:
Natee Sastyoungkul
DC Consultants and Marketing Communications Ltd.
Phone: 662 610 2354 e-mail address: [email protected]