Tata Motors, part of the family-owned Tata Group, has unveiled the world's cheapest car. Priced at a reported $2,500, the Tata Nano – also known as the "People's Car" – aims to bring the comfort and safety of a car within the reach of thousands of families in India.
Ratan Tata (pictured), chairman of the Group, said at the unveiling ceremony that he had watched too many families getting by with just two wheels. "It led me to wonder whether one could conceive of a safe, affordable, all-weather form of transport for such a family," he said.
"Tata Motors' engineers and designers gave their all for about four years to realise this goal. Today, we indeed have a People's Car, which is affordable and yet built to meet safety requirements and emission norms, to be fuel efficient and low on emissions."
The car, which is set to be launched later this year, is designed with families in mind and seats four people. The company also notes that the car delivers "high fuel efficiency" and "exceeds current regulatory requirements" for both safety and emissions performance.
"We are happy to present the People's Car to India and we hope it brings the joy, pride and utility of owning a car to many families who need personal mobility," added Tata.