Geely IG to replace Tata Nano as world's cheapest car

Tata Motors has received vast global attention with its Nano designated as the “World’s Cheapest Car.” But the title may soon be transferred to the Geely IG.

According to several reports, the Chinese manufacturer may soon sell its frugal min-car with its 1.0-liter, 70 horsepower engine and a five-speed transmission for about $2,250, a few hundred dollars less than the Nano.

Geely debut the IG Fantastic, concept car, at the 2009 Shanghai Motor Show. It had gull wing doors, similar to the famous Mercedes Benz sports car. The IG that may be first available as a 2012 model will be 185 mm longer and will have a 100 mm longer wheelbase than the Toyota IQ.

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Although the car will be a four-seater, rear space is very limited unlike the Nano which can accommodate four adults.

Geely is also developing an electric version of the car and is expected to be  launched around 2014. The electric version will feature Lithium ion batteries and a 80 bhp motor. The car will be able to do 93 miles a charge with backing from solar panels on its roof, bonnet and dash.