The Indian automaker will launch its $2,467 vehicle by the third quarter of 2008 and may unveil it at January's Auto Expo in New Delhi, Managing Director Ravi Kant said.

The four-door car -- a pet project of Tata Group Chairman Ratan Tata -- would be the cheapest by far in its class. The current cheapest, the Maruti 800 produced by Suzuki Motor (SZKMF, news, msgs), sells for more than $4,000.