The car is registered as a great event of significance in the history of the company. Millions of people around the world were curious about it and awaited its launch. The purpose was to develop a cheap automobile affordable for the middle class. According to A Jadhav, industrial designer, INCAT, who has been working on the project since its inception, the idea was to try and create a very low-cost transportation with four wheels — it was not even defined as a car (economist.com)
For the team at TATA Motors, the project has been a real challenge, filled with challenges, questions, detours and self-doubts (economist). In the process of developing an affordable car, the team experienced many frustrating design changes. However frustrating the process has been, the engineering team at TATA Motors feels satisfied and proud of the various creative and innovative ideas that have gone into the making of the new car. They have registered a record in the development of a new product in the automobile industry. The promotion is no doubt successful.
Though it has been a constructive and challenging experience for the engineering team at TATA, the company faced protests by farmers and local political leaders and had to give up its factory at Singur. This cost the company $292 million. But, a new factory costed an additional price of $97 million.
The event has become the most memorable as well as very expensive for the company. But the launch itself has been successful. The automobile market has been so receptive so far. For TATA, this relocation of the factory has become even more significant than the actual launch of Nano.
The launch of Nano has brought about a paradigm shift in the concept of bourgeois economy. Now, anyone can dream of owning a car. Moreover, it has created waves in the automobile industry and has opened scope for discussion on issues like cost efficiency, social responsibility, etc.
While looking at the long-term benefits and impact of the event, the relocation of the factory to Gujarat, India will be beneficial to the local economy drawing more investors into the supporting small industries anchoring the growth of the economy.