Tata Motors plans to use the Nano platform to build electric and hybrid cars, Tata Group said in a report of its innovations.

"The Nano is just not a car for Tata Motors, it is also a platform to create more high-end models that will sell for higher prices and yield better margins," the report said, according to the Economic Times of India.

Tata Group said that Tata Motors should target exports of the car to developing countries like Brazil, China, Indonesia and Russia, where the growth rate is more than 10%.

The Nano has 97% local content and displaced the Maruti 800 was India's lowest cost car.