Tata powers electric vehicles stake

FT Oct/15/08

Tata motors has moved a step closer to realising its plan to release an electric vehicle into the European market with its acquisition yesterday of a controlling stake in a small Norwegian electric vehicle company, Mijo.

Tata motor UK will pay USD 2 mio for 50.3% stake in Mijo.

Tata motor will produce electric vehicles , a sedan to be launched in Europe next year.