TATA's 1 Lakh car - TATA NANO Video Watch Online

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.

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