Though he's doesn't bear the Tata surname, he's linked to the family through his sister's marriage to Ratan Tata's half-brother Noel Tata, who was considered another contender for the chairman's post.

WSJ: Tata's New Chairman to Step Into Challenging Role

Anand Mahindra, vice chairman and managing director of Mahindra, says he doesn't regret being trumped by Tata, which had to endure the harrowing fallout of the global recession following its pricey acquisition.

FORBES: The Global 2000

The cheapest versions won't have air-conditioning or power steering, but Tata hopes its cute looks will make up for missing creature comforts--just as happened with the VW Beetle and the Mini long before it.

FORBES: Magazine Article

Although it was speculated that the next group chairman would also have a Tata surname, Mr. Mistry's appointment doesn't come as a surprise.

WSJ: Tata Sons Appoints Successor

Of course, for this incredible price the Nano is bound to have compromises but the brilliance of this car lies in the way Tata has finely judged exactly what Nano buyers expect and what they don't.

BBC: Nano: Triumph of Indian ingenuity