<p>A new mini-car could be rolling onto the US automotive market within three years, as Indian automaker Tata has announced plans to redesign its Nano no frills mini-car for release in the US.</p>.<p>"The US is a very enticing market," said Ratan Tata, CEO of India's Tata Group in an interview with Automotive News. "We hope that the sub-$10,000 car has appeal."<br /><br />The current Nano is an egg-shaped four-seater initially launched in India as an alternative to scooters. It went on sale in 2009 with a price tag of about $2,500, making it the world's cheapest car.<br /><br />To compete in the US, the Nano would have to undergo redesigns to meet American standards including adding power steering and traction control.<br /><br />Even with the updates, the Nano is estimated to hit the US market with a price tag of about $8,000. That would make it America's cheapest car beating out the Mexican-made Nissan Versa that retails for $11,750.<br /><br />The new version of the Nano will also come with a bigger engine and "more bells and whistles", according to reports. <br /><br />Tata says it is also redesigning the Nano for Europe as well.<br /><br />The country's largest automobile company, with consolidated revenues of Rs.165,654 crore (over $31 billion) in 2011-12, Tata Motors has subsidiaries and associates in Britain, South Korea, Thailand, Spain and South Africa.</p>
<p>A new mini-car could be rolling onto the US automotive market within three years, as Indian automaker Tata has announced plans to redesign its Nano no frills mini-car for release in the US.</p>.<p>"The US is a very enticing market," said Ratan Tata, CEO of India's Tata Group in an interview with Automotive News. "We hope that the sub-$10,000 car has appeal."<br /><br />The current Nano is an egg-shaped four-seater initially launched in India as an alternative to scooters. It went on sale in 2009 with a price tag of about $2,500, making it the world's cheapest car.<br /><br />To compete in the US, the Nano would have to undergo redesigns to meet American standards including adding power steering and traction control.<br /><br />Even with the updates, the Nano is estimated to hit the US market with a price tag of about $8,000. That would make it America's cheapest car beating out the Mexican-made Nissan Versa that retails for $11,750.<br /><br />The new version of the Nano will also come with a bigger engine and "more bells and whistles", according to reports. <br /><br />Tata says it is also redesigning the Nano for Europe as well.<br /><br />The country's largest automobile company, with consolidated revenues of Rs.165,654 crore (over $31 billion) in 2011-12, Tata Motors has subsidiaries and associates in Britain, South Korea, Thailand, Spain and South Africa.</p>