Yes, this is made possible by India’s largest motor manufacturing company TATA motors. TATA motors yesterday unveil the $2500 (100,000 Indian Rupees) car called ‘Nano’ said to be world’s cheapest car.

Ratan Tata chairman of TATA group said the car will meet all safety criteria and also the pollution caused by this car will be lower than 2 wheelers. The car is said to be environment-friendly as the car has low carbon dioxide emission.

While unveiling the car in New Delhi car expo Mr. Tata said, “I observed families riding on two-wheelers - the father driving the scooter, his young kid standing in front of him, his wife seated behind him holding a little baby. It led me to wonder whether one could conceive of a safe, affordable, all-weather form of transport for such a family. Tata Motors’ engineers and designers gave their all for about four years to realize 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. 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.”

Currently there is big competition in word’s car manufacturers to design cheapest cars. In India “Maruti udyog” is the biggest competitor of TATA and the current “Maruti 800″ model was the cheapest car model in India before Tata’s ‘Nano’ car.

Car details:
Rear-wheel drive, all-aluminum body, two-cylinder, 624 cc, 33 bhp, multi-point fuel injection petrol engine. This is a 4 passengers capacity family stylish and comfortable car.

It will be interesting to watch how this car will perform in market. Will this project be in profit? Can TATA group afford to manufacture cheapest luxurious ‘Nano’ car’s at the same price? All these questions will get answered soon.

See more press release here.