MUMBAI — Tata Motors announced on March 23 the commercial launch of the Tata Nano, which was first unveiled in January 2008. All three models of the car will be on display across Tata Motors dealerships in India and other select authorized outlets starting April 1.

The Tata Nano is BS-III compliant, comes with an all-new 2-cylinder aluminium MPFI 624cc petrol engine mated to a four-speed gear box and will be available in three models.

The car has a starting price of 100,000 rupees (USD $2,000), making it one of the world’s least expensive automobile.

"The Nano represents the spirit of breaking conventional barriers. From the drawing board to its commercial launch, the concept, development and production of the car has overcome several challenges. It is to the credit of the team at Tata Motors that a car once thought impossible by the world is now a reality," said Chairman of Tata Sons and Tata Motors, Ratan N Tata, at a press conference. "I hope it will provide safe, affordable, four-wheel transportation to families who till now have not been able to own a car. We are delighted in presenting the Tata Nano to India and the world."

The Tata Nano has a warranty of 18 months or 24,000 kilometers, whichever is earlier.

Tata Motors has entered into agreements with 15 preferred banks/NBFCs for the Tat Nano booking loan product. The preferred financial institutions are: State Bank of India, Tata Motor Finance, State Bank of Patiala, ICICI Bank, State Bank of Travancore, State Bank of Mysore, State Bank of Hyderabad, State Bank of Bikaner and Jaipur, State Bank of Indore, Axis Bank, Punjab National Bank, Federal Bank, Corporation Bank, Indian Bank, and the Central Bank of India. The updated list and details are available at, www.tatanano.com.