A car we have been hearing about for quite a while now, mostly because of it’s very low price, is finally almost available.
But six years after the project was conceived, Ratan Tata, chairman of the Tata Group, announced on Mar. 23 that the world’s cheapest car would soon be available in one of the world’s fastest-growing car markets. Tata Motors, which is 37% owned by Tata Group, plans to begin a lottery to pick 100,000 people who will be eligible to buy the first Nano cars that roll off the production line. “We have made a promise and we have kept that promise,” Tata told journalists in Mumbai.
Only 50,000 will be produced this year with hopes of increasing production to 350,000 in 3 years.
As a MINI owner, would you ever think of owning one?[ At Last, Tata Motors’ $2,000 Nano ] BusinessWeek.com