Tata Nano registers new global standard for low cost vehicles

Saturday 28 April 2012, 11:59 AM by

One of the leading auto majors in passenger vehicle segment, Tata Motors has been receiving high applause for its foray into introducing the global auto market with one of the cheapest cars in the world, Nano. Tata Nano has been basically designed for the price conscious Indian buyers owing to which the cost cutting measures resulted in lack of various safety, convenience and performance features.

Mr. Robert D Hormats, Under Secretary for Economic Growth, Energy and Environment commented that the Tata Motors rendition of an economical $3,000 Nano has recorded new global standards for the low-cost vehicles. In an op-ed column in the Huffington Post, he has mentioned Nano’s example to explain that innovations can be directed for catering the demands of the common people in an economic manner.

Mr. Hormats has also acknowledged that innovations are exponentially accelerating in the developing and the emerging economies in the world due to the surge in R & D centers and entrepreneurship levels. Further incentives must be provided to such innovative companies such as Tata Motors, who owns several designing patent rights for its city car Nano. Such incentives bestow upon the Intellectual Property (IP) rights that enables the companies to further incur investment in the development and inventions of new products.

The top US official, Mr. Hormats mentioned that the Internet, new mobile apps and the social media must be aptly utilized to bring in new ideas and innovation but it is the country’s government that should favorably act in this behalf. He has recommended such usage in the developing and the underdeveloped economies in order to sustain and grow in the global industrial scenario.

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