As Tata Motors gears up to launch the world's cheapest car Nano later this year, financing companies, including ICICI Bank, SBI Bank, HDFC Bank and Saraswat Bank, are busy charting out attractive finance schemes to woo the buyers. The Mumbai-based Saraswat Bank is offering a loan of Rs 70,000 at a monthly installment of a mere Rs 1,199 spread comfortably across 84 months or 7 years. The rate of interest is 11-11.5 per cent, which is cheaper than a two wheeler loan. The Nano has already driven these companies to look beyond the two-wheeler market, which has lately shown a huge slowdown.

Nano could spell further privatisation of transport, more traffic congestion and pollution, and

>> In a non-binding report, the European Parliament has given more time to car manufacturers for reducing CO2 emissions from tailpipes. Manufacturers should reduce the emissions to 125 grammes

TVS Motor Company on Wednesday launched its first electric scooter

After the Rs 1-lakh Nano, Tata Motors is now embarking on another path-defining move to come out with electric and hybrid vehicles in both passenger, including its flagship Indica, and commercial segments. According to industry sources, the company is working on blended fuel, partial and complete hybrids, electric vehicles and hydrogenpowered vehicles, some of which could be commercial ly produced by 2011.

us-based Occupational Knowledge (ok) International recently announced the launch of

California and 15 other US states have sued the federal government after the US Environmental Protection Agency (EPA) rejected the state's effort to curb greenhouse gases from cars and trucks. The

The European Commission has proposed tighter emission caps on cars, to be enforced with steep fines. The plan will fine manufacturers for every gramme of co2 emitted beyond the limit, with