Mumbai-based automaker Tata Motors on Thursday said it plans to expand its smallest car to new markets, including America and to its neighboring markets in Asia.

It will drive particularly into U.S and Thailand and will offer a European version of the car, which costs about $2,300, making it the World’s cheapest car.

The four-seater car gets up to 65 miles per gallon (28 km per liter). Cheap labor helps to keep the price down.

It will need to meet all emission and crash standards and so we hope in the next two years we will be offering such a vehicle in the U.S, Ratan Tata told a panel at the Cornell Global Forum on Sustainable Global Enterprise late Wednesday.

Using Thailand as manufacturing base is seen as strategic to export its products to other countries, said Thailand Board of Investment (BOI) Secretary General Atchaka Brimble according to Business Standard.

In January 2008, Tata unveiled Nano as the people's car, a step up from overcrowded, unsheltered scooters launched in India on March 23, a four-seater car gets up to 65 miles per gallon.

It also plans develop cars that run on fuels other than gasoline such as clean diesel, biofuels and batteries.

Shares of Tata Motors rose to $0.11 to 1.07% at $10.42 in the regular trading.

Thailand