Tata Nano bookings will begin by February end. Car buyers will be able to book the world’s cheapest car by paying an amount of Rs 70,000 to Tata dealers and branches of State Bank of India (SBI).
Tata Motors and SBI have signed a partnership for Nano finance. In the initial stage only 100 branches of SBI will be engaged but eventually the numbers will increased to 100.
The car manufacturer holds high hopes with Nano bookings and expects to collect revenue of Rs 700 Crore in few weeks. The car is likely to be launched in March 2009 from the Pantnagar plant in Uttranchal that has a production capacity of 3,000 cars per month.
Even after booking there is no assurance that all those who have booked will get the car as small number of Nanos will be rolled out initially from the Pantnagar plant. And the car will be allotted to buyers through a lucky draw.
Things will ease only after the production of the Nano will start in the Sanand plant near Ahmedabad which will have an initial capacity of producing 2,50,000 cars per annum. But, unfortunately Sanand plant will take another one year to start production. Till then, the world's cheapest car will be rolled out in small numbers.