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New Delhi Feb. 15 Tata Motors today said it was willing to collaborate with Fiat SpA of Italy for its Rs 1 lakh, the trials for which have already commenced.

"The small car, which will cost around $2,200, is ready and is presently undergoing tooling. The product is fully developed and is undergoing trials and productionising. Fiat has expressed considerable interest in this product and we are taking suggestions from them as well. This product is marketable in different global markets such as Latin America and we can tie up for the same," Mr Ratan Tata, Chairman, Tata Group, said here today adding that the car will roll out in the latter half of 2008.

Mr Tata was speaking at the India-Italy CEO Forum event today, which was addressed jointly by him and the Fiat Group Chairman, Mr Luca Cordero di Montezemolo.

Tata Motors has been rapidly increasing the areas of collaboration with Fiat.

The company entered into a joint venture with Fiat earlier last year, with an investment of Rs 4,000 crore at Ranjangaon in Maharashtra to manufacture one lakh cars and two lakh engines annually.

The two companies earlier this week also entered into a memorandum of understanding to build pick-up vehicles bearing the Italian major's nameplate.

The vehicles will be manufactured in the Fiat Group's plant in Argentina, at an investment of $80 million.

Industry analysts point out that the collaboration could be expanded to the tractors segment as well, with the Tata-Fiat alliance reported to have made a bid for Punjab Tractors.

More Stories on : Alliances & Joint Ventures | Cars | Tata Motors Ltd

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