Ratan Tata is one of the most well-known industrialists in the world, not only in India. Several corporate leaders from throughout the world have voiced their respect for Tata Sons Chairman Emeritus, including Tesla CEO Elon Musk. Ratan Tata, the 50-year-old billionaire, was previously described as a “scholar and a gentleman” by the 50-year-old billionaire.
Musk commended Tata in a 2009 interview with Charlie Rose when Rose inquired about the Tata Nano automobile, which had recently been released at the time. “Take, for example, Ratan Tata’s work in India, where he’s building a small automobile for $2300. Where does that fit into the equation of where autos are headed in the future?” Elon Musk had been questioned by Rose.
“I’m familiar with Ratan Tata. Elon Musk had responded, “I think it’s a wonderful idea to have affordable cars.” While Musk appeared to have doubts about the proposal, it was evident that he admired Tata. “The issue with something like this — I wouldn’t call it a problem because Ratan Tata is a gentleman and scholar — is that it’s a nice idea. But, if the price of gasoline rises, the cost of getting the car will become less of a concern than the expense of operating the car,” he noted.
While the Tata Nano was priced extremely cheaply, Musk seemed to be implying that, in the long run, the Tata Nano’s cost advantage will be lost due to rising gasoline prices. Musk, it turns out, was correct all along. In India, oil prices are much higher than they were a decade ago. In various places throughout the country, petrol and diesel prices have surpassed Rs 100, nearly keeping pace with inflation.
The Tata Nano is no longer produced in India, as it was phased out in 2019. However, the rising cost of fuel was not the reason behind Nano’s demise.
After one of the Nano cars caught fire shortly after its release, the public’s faith in the product was shaken. The “world’s cheapest automobile” tag later backfired, and many Indians who bought cars as a status symbol were afraid to buy them because of that tag.
Ratan Tata admitted in July 2015 that his worst blunder was portraying the Nano car as the lowest rather than the most inexpensive,’ as the business intended. The 83-year-old philanthropist later stated that branding the car as the lowest had a detrimental influence on the market. “Success comes from making judgments that one believes are correct,” Tata stated. Sales began to dwindle, and production eventually came to a halt. Musk’s reasoning still stands, even though the Tata Nano failed for entirely different reasons.
Elon Musk and Ratan Tata are both legends in their own right, having revolutionized the motor industry. In India, both Tata and Musk have a large following. They’re also big fans of one other’s work. A meeting between the two would be fascinating to observe.
“When the automobile is in the garage — in the customer’s garage,” he’d said, “the car can be diagnosed over the internet, and software faults can be rectified.” “Tesla permits clients to be offered loaner cars, and if they like them, they may pay the difference and purchase them.” Tesla has done a lot of things that they weren’t required to do. It could have been another electric vehicle. Beyond the goods, they focus on the complete experience and provide the customer with more than he expects. He continued, “Products should also have other items packaged with them to make the experience different.”
