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/ 10 January 2008
India’s Tata Motors unveiled the world’s cheapest new car on Thursday, bringing car ownership closer for millions of poorer consumers in emerging markets but raising environmental concerns. The four-seater Nano, with an engine of 625cc, will have a dealer price of 100 000 rupees ( 500), about half the cost of the cheapest car on today’s market.
Only 10 years ago, Tata Motors unveiled its first car, a hatchback, that established the truck maker’s credentials as a car maker. On Thursday, the company unveils a car that will sell for just  500, less than half the cheapest car on the market.