India's top vehicle maker stopped work last week on the plant where it planned to build the Nano, reportedly the world's cheapest car. Farmers in eastern India blocking construction work at a Tata Motors plant have suspended their protests.
Protesters who blocked the construction of a Tata Motors Ltd. plant near Kolkata have reached a compromise with the local government over disputed farmland acquired for the factory site.
The Singur area of West Bengal state has been rocked by weeks of increasingly violent protests by farmers and local political leaders who want Tata to hand back some of the land that the protesters say was bought at an unfair rate. Banerjee led the increasingly violent protests at the Nano plant, which forced Tata last week to halt work at its $350 million factory. She called the government deal, "a big win for us."
A Tata Motors spokesman declined to comment on the announcement and on whether the company will resume construction or move production of the $2,500, snub-nosed Nano car elsewhere. Tata Motors is going full steam ahead with its distribution and financing plans for its Rs one-lakh car Nano. And like its engineering, both the retail and financing models being worked out for the Nano are innovative too.
Tata Motors will proceed with its plans to build a plant for its ultra-low-budget Nano car in eastern India, after talks yielded a compromise ending violent protests against the factory, Agence-France Presse reported Sunday, citing officials.
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