Behind every billionaire there is a story!

So here it is: world’s cheapest car

 India’s Tata Motors Ltd. unveiled the world’s cheapest car on Thursday, bringing car ownership closer to millions of consumers in emerging markets.

The 4-seater Nano, with an engine around 625 cc, will have a dealer price of 100,000 rupees ($2,500), and will go on sale later this year. Taxes and profit margins will push up the price to drivers, but it will still cost about half the cheapest car on today’s market, a 25-year old model from rival Maruti Suzuki .

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.

“Let me assure you and our critics the car we have designed will meet all safety norms and all foreign environmental criteria,” Chairman Ratan Tata said as he proudly unveiled what had been dubbed the “People’s Car” at the Auto Expo in New Delhi.

read the rest published by Reuters here:

http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSBOM15610920080110