Is the Tata Nano finally ready to take on U.S. roads? Ratan Tata, Chairman of the Tata Group, believes so, but the car won’t be the same $2,500 vehicle found in India. Instead, according to The New York Times, Tata says the American market will get a car built to be competitive here yet still priced well below the competition.

It seems the North American-spec Nano could cost between $7,000 and $8,000. Will that be enough to lure buyers into their local Tata dealer’s showrooms? If gas prices keep climbing, consumers could be attracted by the Nano if the Americanized version can achieve something along the lines of the 52 miles per gallon city/62 miles per gallon highway fuel economy that the current model achieves.

Tata has its eyes on China. The Indian automaker has announced plans to build up to 40,000 Jaguar andLand Rover models in the People ‘s Republic as part of its plan to target emerging markets. So far, there’s no word on exactly when Tata plans to open the doors on new production facilities or exactly where the factories will be located, but it’s clear that the company wants a taste of all of the new money cropping up in China as wealth continues to migrate from the West.

Evidently, Land Rover will be the first of the two brands to be built in the country. Last year, around 208,197 globe-roaming SUVs found their way into the hands of Chinese buyers – around eight percent of total Land Rover sales. Tata is hoping that lowering production costs and increasing supply will help that number swell considerably. From there, Jaguar won’t be too far behind.

Of course, the dark side of the news is that once the Chinese facilities go live, Tata will then shut down one of its two British plants. So far, it hasn’t mentioned which will get the boot.

Following its world premiere at last year’s Geneva Salon, Tata brought its oddly named Pr1ma concept car back home for the New Delhi motor show. Designed and built by famous Italian coachbuilder Pininfarina, the Pr1ma is suppose to offer an indication of how the next generation of Tata saloons could be stylistically interpreted.

The compact-size four-door saloon is based on the platform of the first Indian sedan, the Tata Indigo, and features a wheelbase of 2.700 mm. Neither Tata or Pininfarina have released any more information about the Pr1ma.

Tata Motors, the Indian maker of the world’s cheapest mass produced car, the Nano, and owner of Jaguar and Land Rover, swiped the covers off the Magic Iris at this week’s New Delhi motor show. The odd looking (and that’s an understatement…) mini version of a minivan was developed specifically for India with the company claiming that it “aims at upgrading the quality of travel for those who depend on three-wheelers”.

The pint-size four-wheel passenger car is said to seat up to five people, two at the front and three at the back.

Tata Motors makes it a point to note that the Iris Magic is “controlled by a steering that provides car-like on-road stability, while the hard roof, made of sheet metal, provides car-like safety” and that it also features “car-like clear lens headlamps and tail lights”. If you’ve ever seen the tri-cycles in India, you’ll understand why.

The Magic Iris, which is expected to go on sale in India later this year, is powered by a 0.6-liter water-cooled diesel engine producing 11.3-horsepower that allows the vehicle reach speeds of up to 55km/h or 34mph.