Paris - The French government is set to announce a loan of 6 billion euros (7.75 billion dollars) to aid France's two large auto makers, Renault and PSA Peigeort Citroen, several dailies reported on Monday.

In exchange for the loans of 3 billion euros to each company, at interest rates significantly below market levels, Renault and Peugeot have committed themselves not to shut any French factory or outsource production abroad for the period of the loan, which is five years.

Tokyo  - Nissan Motor Co revised downward its earnings forecast for the full fiscal year after the yen surged against other major currencies and consumer appetite for cars waned owing to the global recession, the company said Monday.

Japan's third-largest automaker after Toyota Motor Corp and Honda Motor Co estimated it would incur an operating loss of 180 billion yen (1.96 billion dollars) for fiscal 2008 that ends in March, which would be the first operating loss for Nissan in 14 years.

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Electric car maker Reva Electric Car Co has informed that it will launch a new model powered by advanced battery technology this year.

The latest model will be powered with lithium-ion based battery and would be launch by May this year.

Sources revealed that the new car with a single charge will cover an approximate distance of 120 km, and will be ideal for city driving conditions.

Tata Motors may launch its ambitious small car Nano, the cheapest car of world, on March 3, the day of birth anniversary of Tata Group founder, Jamsetji Tata.

Its first recipient may be a celebrity from business world, political class, film industry or social sector.

The booking for much awaited small car would start from the end of February, with an amount of around Rs 70,000. However, the official spokesperson of Tata Group declined to disclose any details and said, "We have not announced an official date or any marketing plans so far."

Tata Motor's payments to some vendors are getting delayed, showing the tough situations being faced by India's top bus and truck maker, under the impact of global slowdown.

Ravi Kant, the managing director of company, said, "Yes, there is a delay... there would be a delay. I'm telling you we are in a difficult situation... the whole industry are."

However, he declined to disclose the quantum of outstanding dues that may be more than 12 billion rupees ($245 million), according to reports published in media.