Sunday, March 9th, 2008
Ratan Tata Hints at Buying Ferrari Stake
By Mike Caggeso
Associate Editor
Tata Group Chairman Ratan Tata said he would like to buy a stake in luxury sports car Ferrari, a unit of Torino, Italy-based Fiat S.p.A (OTC: FIATY).
Tata is a Fiat board member and has a marketing and manufacturing alliance with the automaker for his India auto operations.
"I have two passions in my life, cars and aircraft. I have always dreamed of being able to be a fighter pilot. And I confirm the wish to participate in Ferrari’s shareholding," Tata told L’Espresso magazine in its latest issue. "Luca di Montezemolo (both Fiat and Ferrari chairman) has invited me to look around in Italy because his country offers a lot of opportunities in the design and luxury sectors."
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Tata’s intentions are clear - he wants quality and quantity. His flagship automaker, Tata Motors Ltd. (TTM), is weeks away from closing the deal for luxury lines Jaguar and Land Rover. Meanwhile, the company also produces the Nano, the $2,500 compact [and we stress the word compact] that was recently the buzz at the Geneva Auto Show.
A more upscale version of the Nano is set to hit the European car market, but a ballpark date hasn’t been established.
"The Nano will address global markets in due course but when it will do so has not been decided," Tata told auto show goers, the Times of India reported.
News and Related Story Links:
- Reuters:
India’s Tata interested in Ferrari stake - report - Economic Times:
Nano leads India’s small car challenge - Times of India:
Tata’s Nano: High-end version to hit Europe
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