Tata Motors on Saturday said its ambitious Nano project was facing cost overrun but maintained the Rs 1 lakh car could be rolled out from its Singur facility by Durga Puja.
Ravi Kant, MD, Tata Motors, after meeting West Bengal Chief Minister Buddhadev Bhattacharjee, told reporters that the entire project had been reworked at the plant site at Singur due to floods last year which had led to the cost escalation.
"We have already sunk in Rs 2000 crore", Kant said, adding earlier the project cost was pegged at Rs 1700 crore.
Stating that Tata Motors was fully committed to the Singur project, Kant said if everything went well as planned, then the Nano car would be rolled out from the plant during Durga Puja."Work is going on breakneck speed to ensure start of trial production as soon as possible...We hope to start during July or August" he said.
Asked whether there was a possibility of Nano being rolled out from any other plant of Tata Motors, Kant said, "Nano will be produced in West Bengal".
Kant had visited the Singur plant yesterday to review progress and held long discussions with suppliers and vendors.The company said Nano is seeing a huge global interest with enquiries pouring up for setting up plants from countries like the US, Latin America, Europe and South East Asia."Nano has received enquiries for setting up plants and distribution networks from countries from US, Latin America, Europe and South East Asia", Ravi Kant, MD, Tata motors, told reporters here."It is great sense of pride for everybody", he said adding "Nano has changed the rules of the market". Maruti brushes aside Nano competitionNew Delhi: As Tata Motors gears up to roll out Nano by Durga Puja, country's largest car maker Maruti Suzuki is confident that the Rs one-lakh wonder will be of no competition to it."It (Nano) increases the market size but it will not cut into the market of people who are buying cars that are in the Rs two-lakh price category. A person who buys a car for Rs two lakh, I believe that there will be very few people who will buy this (Nano) car. It is a new segment," Maruti Suzuki India Chairman R C Bhargava said.He said people who could not buy Maruti 800 would buy Nano as the price difference was huge. Bhargava said more than the existing entry level cars, Nano will affect the two wheelers."So many people who would have remained with motorcycles will but the Nano. Those who could not buy M800 will but Nano. But a person who buys a Maruti 800 or an Alto, I think there will not be a high percentage that will but Nano instead," he said.Casting doubts over maintaining the Rs one lakh tag in the wake of rising steel prices and other input costs, Bhargava said, "The one lakh price will be difficult to maintain."Asked if MSI planned to come out with a competitor to Nano, he said: "Let me make it clear that there is no plan to develop a one-lakh car at Maruti."Commenting on the changes in MSI after government exited the company with Suzuki becoming the majority shareholder, Bhargava said: "It has does affect the style of the management."
Ravi Kant, MD, Tata Motors, after meeting West Bengal Chief Minister Buddhadev Bhattacharjee, told reporters that the entire project had been reworked at the plant site at Singur due to floods last year which had led to the cost escalation.
"We have already sunk in Rs 2000 crore", Kant said, adding earlier the project cost was pegged at Rs 1700 crore.
Stating that Tata Motors was fully committed to the Singur project, Kant said if everything went well as planned, then the Nano car would be rolled out from the plant during Durga Puja."Work is going on breakneck speed to ensure start of trial production as soon as possible...We hope to start during July or August" he said.
Asked whether there was a possibility of Nano being rolled out from any other plant of Tata Motors, Kant said, "Nano will be produced in West Bengal".
Kant had visited the Singur plant yesterday to review progress and held long discussions with suppliers and vendors.The company said Nano is seeing a huge global interest with enquiries pouring up for setting up plants from countries like the US, Latin America, Europe and South East Asia."Nano has received enquiries for setting up plants and distribution networks from countries from US, Latin America, Europe and South East Asia", Ravi Kant, MD, Tata motors, told reporters here."It is great sense of pride for everybody", he said adding "Nano has changed the rules of the market". Maruti brushes aside Nano competitionNew Delhi: As Tata Motors gears up to roll out Nano by Durga Puja, country's largest car maker Maruti Suzuki is confident that the Rs one-lakh wonder will be of no competition to it."It (Nano) increases the market size but it will not cut into the market of people who are buying cars that are in the Rs two-lakh price category. A person who buys a car for Rs two lakh, I believe that there will be very few people who will buy this (Nano) car. It is a new segment," Maruti Suzuki India Chairman R C Bhargava said.He said people who could not buy Maruti 800 would buy Nano as the price difference was huge. Bhargava said more than the existing entry level cars, Nano will affect the two wheelers."So many people who would have remained with motorcycles will but the Nano. Those who could not buy M800 will but Nano. But a person who buys a Maruti 800 or an Alto, I think there will not be a high percentage that will but Nano instead," he said.Casting doubts over maintaining the Rs one lakh tag in the wake of rising steel prices and other input costs, Bhargava said, "The one lakh price will be difficult to maintain."Asked if MSI planned to come out with a competitor to Nano, he said: "Let me make it clear that there is no plan to develop a one-lakh car at Maruti."Commenting on the changes in MSI after government exited the company with Suzuki becoming the majority shareholder, Bhargava said: "It has does affect the style of the management."
No comments:
Post a Comment