Automobile giant Tata Motors plans to position its small car Nano as a smart city car with advanced features as the company tries hard to do away with its image of being a cheap vehicle.
“We are coming out with a power steering option for Nano. The new version with better fuel efficiency will target the youth,” said Cyrus Mistry, chairman, Tata Sons, at the company’s annual shareholders’ meet on Wednesday.
He added the company will launch a new Ultra range of light commercial vehicles and new medium and heavy trucks in Prima series soon.
Tata Motors’ capital expenditure for the current financial year will be higher than Rs. 3,000 crore it spent in financial year 2013-14.