Tata RaceMo project up for sale as the company intends to raise funds for its other ventures.
Tata Motors has put its ambitious TAMO RaceMo project along with stakes in other group companies up for sale. The RaceMo 2-seater performance car was first unveiled at the 2017 Geneva Motor Show in March last year. The vehicle made its India debut at the 2018 Auto Expo earlier this year along with an all-electric version.
The reason reported by the company for putting the RaceMo project up for sale is the need for funds to finance its other ventures. The homegrown automaker had already shelved the RaceMo project indefinitely in July last year but there were intentions to revive the project. However, the decision to dismiss the project was restated at the recent announcement of the company’s financial results.
The small sports car employs a 1.2-litre turbocharged Revotron petrol motor that puts out 190 HP of power and 210 Nm of torque. Transmission duties are handled by a 6-speed AMT with paddle shifters. The car was supposed to be available in India as a kit car courtesy the MOFlex Multi-Material Sandwich platform. At the Auto Expo this year, Tata unveiled three versions of the vehicle – a regular RaceMo, a track-focused TAMO RaceMo+ and finally an all-electric TAMO RaceMo+. The latter draws power from a 150 kW motor that has a range of 350 kms. The electric variant of the RaceMo is capable of hitting a top speed of 200 km/hr. Tata is expected to revive the ailing CV division with the sale proceeds of the RaceMo.
Tata RaceMo Project
– Tata puts the RaceMo project for sale
– RaceMo is powered by 190 PS Revotron engine, sprints from 0-100 km/hr in 6 seconds
– The car is designed in Italy
Source – MoneyControl.com