Tata Motors unveiled the much awaited Rs. 1,00,000 (US$ 2500) car on January 9th, 2008 at Auto Expo 2008, New Delhi. The car has been called by names - "People's Car" and "1-Lakh Car". But officially, it is called as Tata Nano. :)
You can read more about this car at Tata Motors' press release here. Search for "Tata Nano" in Google News and you will find reviews and photographs from lot of web sites.
What surprised me (also made me happy) is that the news of Tata Nano appeared in TechMeme (which is primarily as technology news site). and this story was run by The New York Times. Wow!!..
World must be surprised that India can make cars at US$ 2500.. without compromising on looks, safety and performance. (at least thats what Tata claims :) )
I liked this video below which is a collage from different channels like CNBC, CNN, ABC, etc. put together. (The video comes with its advertisements in between.. you would have to bear with that)
PS: Tata Motors was also in news yesterday for acquiring the Jaguar and Land Rover brands.