New York  - Despite record losses, the chief of Ford Motors, Alan Mulally, earned 13.6 million dollars in 2008 but has agreed to a huge salary cut for this and next year, Ford motor company said Tuesday.

The 2008 income included 2 million dollars in regular salary plus long-term stock options, the country's second largest car producer said. That amount however was 37 per cent less than the previous year.

New York  - Despite record losses, the chief of Ford Motors, Alan Mulally, earned 13.6 million dollars in 2008.

The money included 2 million dollars in regular salary plus long- term stock options, the country's second largest car producer said Tuesday in a statement.

Mulally did not receive a bonus for 2008, in contrast to 2007. For the current and next years, he has agreed to a 30-per-cent salary reduction.

Ford reported record losses of 15 billion dollars for 2008 - but still has enough cash reserves to survive.

Bangkok - China's Chery Automobile is mulling a production base in Thailand for right-hand-drive vehicles for the domestic and export markets, media reports said Tuesday.

"Thailand is an important market for us and a very viable location for a production site, due to the infrastructure and skilled labour," Chery Vice President Zhou Biren told The Nation newspaper.

Chery currently sells cars in Thailand through local partner Thai Chery Yarnyon.

New Delhi - Tata Motors' Nano, the world's cheapest car, that is expected to redefine personal transportation in modern India, was launched in the country's financial hub of Mumbai on Monday.

The commercial roll-out of the Nano, costing 100,000 rupees (about 1,984 dollars), comes 14 months after its prototype attracted global attention at a car show in New Delhi in January 2008.

Three Nanos with blinking headlights drove onto a stage at a

glitzy function in Mumbai Monday evening where a presenter introduced it as a "car that will change the world".

Mumbai, Mar 23: Tata Group Chairman Ratan Tata is all set to launch the Nano, the 4-seater, 100,000-rupee price tag super-cheap car for the masses, today.

Described as ‘people’s car’ by Ratan Tata, customers can expect to own a car at a price between Rs. 1.20 lakh and Rs. 1.30 lakh, depending on the version of Nano.

The Nano would come in three versions -- standard and two deluxe models with air conditioning.

New Delhi, Mar 22 : Tata Group Chairman Ratan Tata is all set to launch the world's cheapest car, Nano, on Monday.

Described as `people's car' by Ratan Tata, customers can expect to own a car at a price between Rs. 1.20 lakh and Rs. 1.30 lakh, depending on the version of Nano.

The Nano would come in three versions -- standard and two deluxe models with air conditioning.

After the launch in Mumbai, Nano would be displayed at the company's dealerships from the first week of April, while the bookings would start from the following week.

The booking amount is fixed at Rs. 70,000.