CorporateTata Motors resolves compensation issues with vendors
Tata Motors today said it has sorted out differences with vendors regarding the compensation issues arising out of its decision to shift the Nano plant from Singur.
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"The issues have been resolved with the companies (vendors) internally. Vendors are in line to set up their facility in Sanand," Tata Motors President (Passenger Car) Rajiv Dube told reporters while showcasing Indigo Manza here.
Earlier, several auto parts auppliers were reportedly seeking compensations from the company on the ground that they would incur huge losses, if, their component units were to be relocated to Sanand in Gujarat, where the carmaker is now setting up the world"s cheapest car facility.
Tata Motors had announced to pull out the Rs 1,500-crore Nano project from Singur in October last year after following violent protests by Trinamool Congress over land acquisition.
Dube, however, declined to give details whether the company has compensated the vendors financially or has offered some other benefits in Sanand.
Regarding the 997-acre land in Singur acquired for the Nano project, he said, the company is in discussion with the state government for the future course of action.
After Indigo Manza was launched in October sales of the Indigo family has grown to about 5,000 units per month from 3,000 units earlier, he added.
On FY10 sales outlook, he said the company has grown 14-15 per cent so far and expects to close 2009-10 at this level.