Recent reports in the Times Online and The Guardian, announced that India has just launched the world's cheapest car.The new 'Nano' rolls out of the plant with a price tag of only 100,000 rupees (Â£1350). It will exported to richer nations, starting with Europe by 2011 by which time, after Europe safety standards are met, it is anticipated it will cost around Â£4500. This wonderful low-cost 4 door family transporter is a great development from India that has been five years in the making during which time the manufacturers have overcome many setbacks.The car specifications are as follows:Engine: 623cc, four-valve, all aluminium twin-cylinder unit, fed by cheap Bosch fuel-injection system.Power: 33bhp @5250rpmTorque: 35lb ft @2500rpmTransmission: 4 Speed ManualFuel Economy: A whopping 67mpgCO2 Emissions: 110g/km or less. That may not sound very impressive but it's claimed to be 12% less than any motorbike in the country.Acceleration: 0-62mph in 35.1 secTop Speed: 65mphThe great thing about the Nano is that it is a city car. It is simple and cost effective enough to bring a smile to our faces. Going to get your weekly food shop? Hop into your Nano. Going to pick up the kids from the local school? Hop into the Nano. The Times says that this is going to be 'the biggest small car in the world'. Lets hope it lives up to expectation.