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Ratan Tata, chairman, Tata Motors, unveiled the people's car Nano at the New Delhi, 9th Auto Expo today.The car would be commercially launched in the second half of 2008,expected to come in market by September, and would be produced at the Singur plant in West Bengal.
Speaking at the launch, Ratan Tata, said: "The car is powered by a 624cc, 30 bhp engine and will deliver mileage of about 20 kpl."
The standard variant (without AC) of Nano is priced at Rs 1 lakh($2500) for dealers excluding VAT and transportation. There will be two deluxe variants with AC and other luxurious features.Tata Motors has also planned to launch NANO's diesel variant in coming future.
"The car has already undergone full frontal collision tests and will soon be undergoing side impact tests this year. It will be Euro-IV compliant and will meet all emission norms till 2010", Tata said.
The car is 8% smaller in terms of length than the Maruti 800, but has
21% more room internally.
"A team of 500 designers and engineers worked for four years on the development of the car. Since we started the project four years back, there has been a steep increase in input cost, but a promise is a promise," Tata said after unveiling his pet project.
Besides India, the company plans to sell the car in Africa, Latin America and South East Asia.But Tata said it would focus on the home market for 2-3 years before considering exporting the Nano to countries in Africa, Latin America and Southeast Asia.
The compact but curvy Nano stands in sharp contrast to the luxury Jaguar and Land Rover brands that Tata is negotiating to acquire from Ford Motor Co.
Global car makers -- initially skeptical that Tata could produce such a low-cost car -- are now scurrying to make their own versions to meet the needs of cost-conscious consumers in emerging economies such as China, India and Russia.
Ford this week said it would build a small car in India within two years, and the alliance of Nissan Motor and Renault, which has made a big success of its no-frills Logan sedan, plans a $3,000 car with Bajaj Auto.
Volkswagen, Toyota, Honda Motor and Fiat have also said they are looking at small cars for emerging markets where strong economic growth has made car ownership a reality for millions.
Compiled By: Saurav Chakraborty
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