World's "cheapest car"

Reporting from New Delhi -- With the flash of cameras and oohs and aahs from the crowd, an Indian company Monday launched what is billed as the world's least expensive car, six years after it was conceived and six months behind schedule.

The Nano will start at $2,200 after taxes and dealer costs, while the more expensive CX and LX models with heat, air conditioning and power brakes will go for as much as $3,800.

None of the models, made by India's giant Tata conglomerate, carry air bags or anti-lock brakes. But they will meet or exceed all Indian safety standards, company officials said.

"I hope it will provide safe, affordable four-wheel transportation to families who until now have not been able to own a car," Ratan Tata, company chairman, told reporters.