NEW YORK (
(TTM) ADRs surged 3.7% to $18.40 after the Indian automaker unveiled the electric version
The Tata Nano Electric Vehicle -- or Tata Nano EV -- will seat four and is expected to have a range of up to 160 kilometers (or 100 miles) and an acceleration of 0 to 60 kilometers per hour (0 to 37 miles per hour ) in under 10 seconds. The vehicle will run on lithium ion batteries.
"Electrification will be an integral part of our initiative to launch environment-friendly vehicles," Tata Motors Vice Chairman Ravi Kant said.The company hasn't specified when the electric Nano will be coming to the U.S. and Europe. Its predecessor, the Nano, has been dubbed the world's cheapest car at a price of around $2,500.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV