A redesigned version of India's no-frills Nano minicar will come to the United States in three years, said Ratan Tata, the billionaire boss of that country's giant Tata Group.
"The U.S. is a very enticing market," Tata said in an interview. "We are redesigning the Nano for both Europe and the U.S."
He said the new Nano will be far more sophisticated than the ultracheap model that has flopped in India despite a world of hype.
It will get a bigger engine and "more bells and whistles," including such features as power steering and traction control. Tata said it will be priced below $10,000.
What the 74-year-old industrialist did not say is how he intends to sell it here. Tata has no U.S. retail network.