| Tata buys a stake in electric market |
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| Written by Staff Reporter | |
| Wednesday, 22 October 2008 | |
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TATA, the Indian car maker, which owns Jaguar and Land Rover, has bought a controlling stake in Norwegian electric vehicle company Miljo Grenland/Innovasjon.
Tata’s UK subsidiary, Tata Motors European Technical Centre, will pay $2 million for a 50.3% stake in the company, which is a specialist in polymer lithium ion batteries. It is planned that the Norwegian company will produce electric vehicles based on Tata models. Tata aims to introduce the Tata Indica EV, a saloon car, to the European market in 2009. |
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