“The mini-car is the brainchild of one of India’s top industrialists, Ratan Tata, who had a dream to move millions of Indian families off their two-wheelers and into a safer, all-weather alternative. Many auto experts here have likened the Nano to the Henry Ford Model T that revolutionized American life a century ago. The down payment for a Nano is about $70. I made a promise and I kept that promise,” the soft-spoken 71-year-old Tata said at a glitzy launch party Monday. “I dedicate this car to the youth of India who designed it and will use it to transport their families. It shows that nothing is really impossible if you set your mind to it.”
The global economic downturn has only made the car more desirable, and not only in developing nations, Tata said. The company is planning to launch a version of the Nano in Europe in 2011, and after that a souped-up Nano for the U.S. market…..”
More at the Washington Post.
Hmm. Hate to sound like some desi nationalist preening. But really. Jack Welch comes out with a begging bowl (he was one of the business men selling the bail out and now he was one of the loudest voices asking for calm on the AIG bonuses)…..
And Tata gives us a car for the masses (I mean the American masses too). No more hideous gas-guzzling SUVs. A downsized car for a downsized economy….
This was my feel-good story for the month. Business and technology supplying a market need and solving problems, in spite of what anti-business propaganda might say. Of course, I don’t consider the rent- seeking parasites who cozy up to government to be anything more than a criminal class, the kind free-loading inevitably produces, whether at the bottom of society, or more perilously, at the top….