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Subject:  Re: Tata Motors Date:  2/19/2006  3:25 PM
Author:  jimpiccard Number:  10 of 23

I have an indirect stock interest in Tata through one of my larger holdings, Westport Innovations (on the WPT.TO; WPT on the Toronto Exchange). WPT.TO is the world-wide leader--at least right now-- for injectors, controllers, and related technologies to turn diesel-fuel burning engines into 'natural gas diesels'. They also are working on hydrogen injectors with Ford and BMW; natural gas diesels for Japan's small truck delivery market with Isuzu; and with by far their biggest relationship, with Cummins, through their 50/50 Cummins Westport International partnership. CWI is the actual 'operational arm' for westport, both selling, overseeing manufacturing of, etc. the natural gas engines based on a Cummins engine block. BIggest north american customers are Los Angeles basin area transportation companies, Washington,DC Metro, and several others.

CWI has sold 2700 engines so far in China, none (yet) in India. However, as of now, CWI, through Cummins, has established local manufacturing of engines in both China, and India. (The Indian outfit is ready for production and sales right now; the China joint venture, with Dong Feng, later this year). Keep in mind, though, that even without localized Chinese content, they already have 2700 engines on the road in China; most of them in Beijing, which is under mandate to have all buses using alternative fuel vehicles for pollution control by the 2008 Olympics. (