Move over Nano. A cheaper car will soon hit the Indian roads.
Priced at Rs 99,999, the four-seater Tara Tiny will be a battery-powered vehicle, said a report in the Economic Times on Friday.
Kolkata-based Tara International has teamed up with China's Aucma, a leading player in the electrical vehicles and appliances segment, to manufacture this car.
The company plans to launch Tara Tiny by June this year.
Besides Tara Tiny, three more cars -- Tara Titu, Tara Micro and Tara Mini -- are also in the pipeline, said the ET report. The ex-showroom prices of these Tara cars will be between Rs 99,999 and Rs 500,000.
The vehicles can be recharged daily at 220 volts through a 15 amp socket. The electrical vehicles business is seen to generate a turnover of Rs 15 crore (Rs 150 million) in 2008-09 and about Rs 50 crore (Rs 500 million) in the second year.
According to Tara Shankar Ganguly, the group chairman, the company also has plans to introduce buses and electrically power two- and three-wheelers.
While the two-wheelers will be in the range of Rs 9,999 to Rs 30,000, the three-wheelers are likely to be priced between Rs 85,000 and Rs 180,000.
A photograph of the prototype has not yet been made available.