Fiat SpA, Tata Motors to sell Nano in Latin America

Italian carmaker Fiat SpA and Tata Motors Ltd intend to sell Tata's ultra-low-cost Nano model jointly in Latin America, Ratan Tata said in an interview to a newspaper on Thursday.

tata-nano The Tata Nano

Tata, who is also a Fiat director, told the newspaper the two were studying further cooperation to add to existing projects such as a partnership to produce engines in India.

"We have various projects, to take the Nano to Latin America together, to share platforms for new cars, we have projects for (Fiat lorry unit) Iveco and also for us to sell Ferrari and Maserati," Tata said.

"We are talking about a lot of things."

The first Nano, the world's cheapest car, was delivered this month. Tata said the car's production run for the next two years is already sold.

The Nano is being sold in India for 100,000 rupees ($2,053) excluding taxes.

The Nano passed the European "crash test" safety standard on Friday, allowing it to be sold in the Europe market and a launch is foreseen at the end of 2011, Tata said.

Brazil is Fiat's second-biggest market after Italy.

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