Tata Motors has formed a team to look into ways of cutting the cost of its Rs 1 lakh car, Nano. "We have formed a team. The input costs have gone up,' Tata Motors MD Ravi Kant said. Tata Motors has formed a team at its plant in Pune. Nano's ex-factory price is Rs 1 lakh, making it the world's cheapest car. Nano would be manufactured at the company's upcoming facility in Singur, West Bengal and is expected to roll out from the factory in October. Bookings for Nano are expected to start threemonths from now. As part of phase I, Tata Motors would manufacture 2.5 lakh Nanos and in phase II it would ramp up its facility in Singur to 1 lakh more. Ravi Kant ruled out the possibility of Nano being made in the company's Ranjangaon factory in Pune. At Pune, Tatas and Fiat have 50:50 joint venture manufacturing plant. PTI