Tata Motors is exploring high growth markets such as China for its passenger cars and trucks, said Rajiv Dubey, vice-president, commercial passenger car business unit of Tata Motors.

Speaking at the unveiling of the new Indica V2, Dubey said that the China market was a two million cars market. In comparison, the Indian market was at one million cars per annum.

However, he clarified that the company had been trying to enter the China market for a while now. But, entry into the market would have to be through local partnership, as import duties were very high.

Responding to queries on the proposed Rs 100,000 wonder car, he said that the company had set up a team to work on the project. The team comprised representatives from materials, design and other departments among others.

But, Dubey clarified that the company was only exploring the possibility of introducing such a car. He said that it would take three to five years to come out with such a car.

The challenge was that the company had no reference point as no company in the world had launched a car with such price constraint.

Dubey said that the car would not be a glorified three wheeler or a no-frills version of an existing car.

Dubey was in the city to unveil the new Indica V2. The new cars would be reaching the dealers of Tata Motors in Kolkata by mid-January.

While the car was available for the same price as Indica V2, several new features had been added on the outside and inside of the car.

The interiors had been refurbished and the car would be offered in a 1400cc high-performance petrol engine and a fuel-efficient diesel version.

The car's new look has been accentuated with new wheel arch fairs and sill valence covers. The car would also be available in many colours to give it a fresh appeal.