Tata Motor’s ‘Ultra Low Cost’ creation christened the ‘Nano’ has become famous worldwide as the “cheapest car.” Costing a little more than a lakh INR (base model ex-factory) in India, the Nano indeed is the cheapest car out here. Tata Motors made use of the Detroit Auto Show as a platform to unveil the Nano in North America for the first time. There were rumors that the Americanized Nano would cost as little as $5,000. However, the Detroit News reported that according to a source within the company, the car would be priced at $8,000 which is approximately a whopping Rs 360,000, almost triple of the price prevalent here in India. The car is reported to hit the American streets in the next three years.