×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Tata seeks to strengthen ties with Fiat

Tata seeks to strengthen ties with Fiat
Comment E-mail Print Share
First Published: Thu, Jul 24 2008. 09 50 AM IST
Updated: Thu, Jul 24 2008. 09 50 AM IST
Milan: The country’s largest auto maker by revenues, Tata Motors Ltd, said it was seeking to boost its partnership for production and distribution of cars with Fiat Autmobiles SpA, Italy’s biggest auto maker, including help with the marketing of Tata’s new Nano model.
“We hope the joint venture will lead to sharing platforms” for car production, Tata Motors chairman Ratan Tata said at a press conference in Turin on Wednesday. “We have talked about the Nano being marketed in markets where Fiat has a strong presence.”
Fiat is boosting its partnership with Tata and is targeting joint production of 200,000 cars, 300,000 automobile engines and 300,000 units of spares and accessories by 2012. Tata, India’s biggest truck maker, and Fiat’s Iveco truck unit are also exploring a possible cooperation on commercial vehicles.
Tata, which last month completed a $2.4 billion (Rs10,152 crore) purchase of Jaguar and Land Rover luxury brands from Ford Motor Co., has said it will boost capacity to produce the $2,500 Nano car because of higher than expected demand in India and overseas. The car maker will begin production of the model in the last quarter of this year. Separately, Tata said his group is discussing cooperation on making helicopters with AgustaWestland, a unit of Italy’s Finmeccanica SpA. “We hope to manufacture full helicopters, but today, we are looking at supplying sub-components,” Tata said.
Vipin Nair in Mumbai contributed to this story.
Comment E-mail Print Share
First Published: Thu, Jul 24 2008. 09 50 AM IST