The Nano's bigger and all-electric cousin, the Tata Motors' Vista Indica, could be put on hold if the British government doesn't provide the Indian company with a £10 million loan. Unveiled late last year and kind of on display at the SAE World Congress this spring, the Vista EV is supposed to be the vanguard of Tata's electric movement in Europe. Instead, the vehicle's fate – at least in the UK – is now uncertain.
In April, Tata Motors said it wanted to apply for the loan in order to build the car in the UK. Last week, the government told the company that more time is needed before the government will even consider the loan. The Observer newspaper said Tata Motors "is furious" at the long wait time.
In January, the UK announced a £2.3 billion fund of loan guarantees and loans for helping car companies, but none of that money has been released yet. A government spokesman said the fund was, "about long-term investment projects, rather than short-term rescue." Thanks to Shrawan R. for the tip!
[Source: Times of India]