Tata unveils Rs 1 lakh car, calls it Nano

New Delhi (PTI): Tata Motors today unveiled its people's car, Nano, that meets Euro 4 emission and safety norms.

The car, popularly called the Rs 1 lakh car, will cost Rs 100,000 at the dealer end but would attract VAT and transportation cost.

"Since we started the project four years back, there has been a steep increase in input cost, but a promise is a promise," Tata Group chief Ratan Tata said after unveiling the car - his pet project.



NEW DELHI -

Tata Motors Thursday unveiled what will be the cheapest car to hit the road anywhere in the world, amid much fanfare as thousands thronged for a peek at the vehicle that Tata hopes will coax habitual customers for two-wheeled vehicles to move upmarket.

At the Auto Expo in New Delhi, Ratan Tata drove the Nano, which the company calls the People’s Car, onto the stage and said it would still have the price tag of 100,000 (approximately $2,500) rupees promised four years ago, though commodity prices have since risen. “That’s because a promise is a promise.”

But the vehicle will make a profit for the company, he emphasized. Tata Motors’ shares were up 1.7% on the Bombay Stock Exchange, at 783.50 rupees.

The four-door vehicle, which can comfortably seat four people, has a 33 brake horsepower, 624 cubic centimeter engine in the rear. The basic model has no air conditioning, power steering, antilock brakes or electric windows, though a couple of deluxe models will offer air conditioning. It also has a single windshield wiper and no rear seat belts. The car will be ready for the market later this year.