Tata Motors has launched the people's car - 'Tata Nano.' The car will be available in several variants. Ratan Tata, Chairman, Tata Group said that the car would be manufactured at the Singur plant later this year. He informed that the standard Nano would be priced at Rs 1 lakh for dealers (excluding VAT).

Earlier, he had said that they may not be able to hold the price that they have emotionally held on to, reports CNBC-TV18.

The commercial launch of the 'people's car' will be in H2CY08, he informed. People's car will be 20% shorter than Maruti 800 but will have 20% greater internal volume.

He also said that it was too premature to talk of EBITDA margin of the small car. But they will offer a wide variety of variants with several upmarket options. Tata has been approached by two countries to launch the 'People's Car' and they may be looking at Africa and Latin America and South East Asia to launch the car.

The company will not sacrifice profits and there is a strong business case for the small car.

So far, they have invested Rs 1,500-1,700 crore in the small car project. The car will comply with Bharat III & Euro 4 emission norms. He said that the car meets all safety standards including crash test, offset and side crash.