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Tata Motors launches Nano, cheapest car in the world

(Xinhua)
Updated: 2009-03-24 21:28

MUMBAI - India's Tata Motors Monday launched Nano, the cheapest the car in the world.

Tata Nano cars are displayed during their launch in Mumbai March 23, 2009. The Nano, the world's cheapest car, will hit Indian roads in July, four months after its formal launch on Monday, and demand is expected to far outstrip supply as the price tag of around $2,000 draws legions of new buyers. [Agencies]

Tata Motors chairman Ratan Tata said at a press conference here that the sale of the car will start in Tata showroom here on April 9, with 10 million application forms to be selected randomly. Each booking form will be sold for 300 rupees (US$6)

He said the car has three versions for sale and has a top speed of 105 kilometers per hour.

"Today is another day in journey of Nano," he said, adding that the car is affordable for Indian families.

Described as People's Car by Ratan Tata, the car claims to promise an affordable and comfortable vehicle to millions of Indians for whom a car war far out of reach.

The on-road price of Nano including tax is only US$2,500. The snub-nosed, 4-seater 623cc rear engine car is an idea and dream project of Ratan Tata, who seeks to place his car as a milestone in humanity's auto history like Fords Model T, Volkswagens Beetle and the British Motor Corps Mini.

Nano is also deemed as a lifeline for the Tata Motors, which was hard hit by a slowdown in demand for commercial vehicles. The company suffered loss in the four quarter of 2008, the first in seven years, and the success of the Nano would be crucial for the company.

Tata planned to produce cars in its Gujarat plant with an annual production of 50,000-60,000 units.

Tata is also set to sell the car in Europe from 2011.

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