India-based Tata Motors plans to launch what it’s billing as the world’s cheapest car later this year, a five-seater selling for about $2,500. The roughly 58-miles-per-gallon “People’s Car” hopes to lure less affluent folks in India and other developing countries who often rely on ultra-cheap two-wheeled motorbikes and scooters for transport. The car will be unveiled later this month at a New Delhi auto show.
