Tata Motors may cancel its plan to launch the Tata Vista Electric in the UK, if it fails to receive a 10 million pound loan from the UK government soon. The Tata Vista Electric was unveiled at the Geneva Auto Show this year, and Tata Motors had expressed an interest in applying for a 10 million pound loan for the car in April. The company, however, has been told by the business department of the Secretary of State for Business, that eight more weeks will be needed to find out if the venture can be considered for the loan, taking the total waiting period to over six months.
In January 2009, the UK government had unveiled a 2.3 billion pound package to guarantee loans to car makers wanting to invest in fuel efficient technologies. No money has been released by the government under the package so far.
