While the automobile enthusiasts wait eagerly for the launch of the much touted Nano car, the India’s largest passenger automobile and commercial vehicle manufacturing company Tata Motors is already busy working with a Norway based firm to roll out an electric car.

Ratan Tata, the chairman of the Tata Motors Company himself announced on Thursday, July 25 that the new electric car will hit the road in India this financial year. He, however, refrained from divulging what will be the price range of the electric car.

Due to the spiraling fuel prices worldwide, the electric car or the e-car has gained in attention and popularity. This is why big automobile makers such as GM, Nissan and Honda are all contemplating about creating e-vehicles and lessening the production of the fuel guzzling ones.

A number of developed markets, therefore, are expecting to see the launch of e-vehicles this year. Electric cars have been a success in a few markets like the US and are costlier than those vehicles that operate on petrol or gasoline. At the same time, such products also have to be provided with the necessary infrastructure such as charging stations.  

It was further announced by the Tata Motors that it has collaborated with US automobile manufacturer Chrysler to market its Ace electric version (EV) in early 2009. The Indian auto maker is also known to be making an eco-car in alliance with the Thai government.