Before you place your bets on Tata Motors for the manufacturer of the world’s cheapest car, you may want to pay attention to the unveiling of Bajaj Auto’s RE60, predicted to be Tata Nano’s newest competitor.

The Tata Nano has been crowned industry leader for its ability to fulfill the requirements of the average family car while only costing approximately $2,500. However, the RE60 won’t give up the throne so easily. Primarily focused on the production of scooters and world renowned for its three-wheeled vehicles, Bajaj Auto has now developed a family small car that will not let the developing families of India be left behind in the country’s recently precipitous urbanization.

Bajaj Auto takes pride in its frugal and cost-competitive beliefs shown through the design and performance of the RE60. As auto-rickshaws (three-wheeled vehicles for hire) are in high demand within India, these cars will surely perk the interest of the nation’s daily commuters and set a new high -- or low -- in affordable and innovative car manufacturing.