While the financial crisis has the Big Three reeling, perhaps the biggest threat is the tiny Tata Nano. This Monday India saw the release of the world's cheapest car, starting at £1,350. Although the Nano was designed for the Indian market, Ratan Tata, the chairman of Tata Group, has big plans:
The European Nano will be rolled out within two years and the US Nano within three. "Given the present indications of the buying preferences in the US, we felt that we could further develop the European Nano to meet the requirements of the US," he said.
Speaking to the Guardian, Tata said he had the Indian family in mind when he designed this car. "Here in India we see four people travelling by motorbike ... I thought they could travel more safely by car," he said. "However, in the United States it could be for younger [people] who want a low-cost car."
Where do I sign up?
(Hat tip: Chris Blattman)
Update: A paean to the Nano in Forbes: "The brilliance of the Nano lies in its finely judged balance of skimping where it doesn't matter and pampering owners where it does."
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