Flagging an affordable price tag, the world's cheapest car' Nano' was launched here today, carving out a niche in the annals of the automobile industry.

'' Nano represented a spirit of breaking conventional barriers.

It will provide safe, affordable, four wheel transporation to families, who till now have not been able to own a car,'' leading industrialist Ratan Tata told a crowded press conference announcing the booking would start from April 9 and deliveries would commence from July. Tata said, '' A car once thought impossible by the world is now ready''.

The Rs 1 lakh car will be manufactured initially at the company's Pantnagar Uttarakhand plant in limited numbers.

Tata Nano' will hit the Indian roads from this July.

The new dedicated plant coming up at Sanand in Gujarat will be ready next year with an annual capacity of manufacturing 3,50,000 cars.

The car will be available in three models, standard, CX and LX, Tata added. Tata Motors will open the booking for the keenly awaited 624 cc car that is all set to trigger a new automobile revolution in the country, on April nine. The booking window would be available for a fortnight till April 25.

Tata, who would not hazard to give the numbers of the vehicle that would be delivered by December end this year, said that the Pantnagar plant had an annualised capacity of 50,000 vehicles. On the profitability of the car, Tata who would not venture into short term or mid term profitability of the Nano project said, ''it will make money for Tata Motors''.

Tata said that from the drawing board to its commercial launch, Nano had overcome several challenges, including in its concept, development and productionisation and complimented the team at Tata Motors for fulfilling his dream. He expressed confidence that his young colleagues would keep up the spirit of innovation even when he was not around.

Tata Motors MD Ravi Kant said that the capital expenditure incurred in the plant was around Rs 2000 crore so far. The initial production would be in the Pantnagar plant and the subsequent rollout would be from the new plant at Sanand in Gujarat, shifted from Singur in West Bengal after Trinamool Congress triggered a protest over land allocation.

The booking would be received by the State Bank of India in its various branches across the country. The application form costing Rs 300 and vailable with a range of offers from select associate of Tata Group of Companies. Tata Motors had also entered into agreement with 15 preferred banks and non banking financial companies for providing loan to those who book Tata Nano. They would have to pay only Rs 2999 initially for booking. Their chosen financier would directly submit their application forms to the SBI on their behalvs.