The Tata's Rs 1-lakh (Less than $2500) car is here! And it is named as Nano! (nothing to do with Nano technology I suppose).
Ratan Tata, the Tata Group chairman on Thursday unveiled the Tata Nano at the 9th Auto Expo in New Delhi.
Here are more details about Nano straight from the horse's mouth.
Ratan Tata, while unveiling the Nano, said: "The car will meet all current safety norms and all emission criteria. The pollution it will cause will be lower than 2-wheelers."
The car, he said, is smaller than a Maruti 800, but has 21 per cent more volume or space inside than the 800. He said that the dealer price of the car will be Rs 1 lakh, plus value-added tax (VAT) plus transport charges.
The car will have a 624-cc petrol engine generating 33 bhp of power. It will sport a 30-litre fuel tank and 4-speed manual gearshift. One of Nano's three versions will come with air conditioning, but will have no power steering. It will have front disk and rear drum brakes. The company claims mileage of 23 km per litre.
The car's dashboard features just a speedometer, fuel gauge, and oil light. The car does not have reclining seats or radio. The shock absorbers are basic.
Nano, the world's cheapest car, costs almost half of the cheapest car currently available anywhere in the world.
''Since, a promise is a promise the standard dealer version will cost Rs 1 lakh,'' said Tata Sons chairman Ratan Tata.
He informed that the car is 8 per cent smaller bumper to bumper, than the Maruti800 but at the same time 21 per cent larger in its interiors and can sit up to four people.
Let wait for it to be available for a test ride and also await Hamara Bajaj's competitor.