Cheap to Chic

Tata, the Indian car company that unveiled plans for it’s ultra-affordable $2,500 Nanocar in January, just announced plans to purchase Jaguar and Land Rover from the Ford Motor Company. The deal marks Tata’s first foray into the luxury car category.

At a time when Americans are uncertain about buying a car, the $2.3 billion deal could help invigorate Ford, which has lost $15 billion over the past two years. No word yet on whether Tata has plans for a  NanoJag, but one can always dream. [The Guardian]