Ok, it is official now. Tata finally unveiled their so called people's car. Tata's Rs. 1 lac car is finally uncurtained and shown in a press confrence in New Delhi's Auto Expo 2008. The car has been named "Nano".

Nano is priced at Rs. 1 lac excluding taxes. It is 20% smaller than Maruti 800. It has 625 CC engine. The engine is at back of the car and front part can be used to store luggage.

Ratan Tata said in press confrence that the Rs. 1 lac price tag may be increased a bit in future because the company is unlikely to compromise on profit front.

The car may have direct competition with Bajaj's small car which was unveiled just couple of days ago.

Mr Tata said at the show: "I observed families riding on two-wheelers – the father driving the scooter, his young kid standing in front of him, his wife seated behind him holding a little baby. It led me to wonder whether one could conceive of a safe, affordable, all-weather form of transport for such a family. We are happy to present the People's Car to India and we hope it brings the joy, pride and utility of owning a car to many families who need personal mobility."

The Tata Nano measures 3.1 meters in length, 1.5 meters wide and 1.6 meters high, has plenty of ground clearance and is a little bigger than a smart car. The US is not likely to ever see the Tata Nano on the roads, nor is Western Europe, instead the people's car is most likely to be marketed in bottom-of-the-pyramid countries, ie Africa, South East Asia, Eastern Europe and Latin America.