Chinese car marketer Geely is planning to grab the headlines as maker of the world’s cheapest car,when it launches a small hatch back based on the IG concept shown at the Beijing motor show.The cost of this new small car will be between 1 Lakh Rs to 1.35 Lakhs.Geely which recently bougt Volvo from Ford also claims that the IG,or Intelligent Geely will be of better quality than the Nano.

Although the IG is 185mm longer than the Toyota IQ and sits on a 100 mm longer wheel base,it is billed as a 2+2 with very limited rear space.The concepts exclusive gullwing doors are expected to be deleted in favour of a more conventional design.An electric version of IG will be sold in US and Europe.Geely already sells cars in Europe and Russia and is looking to expand its network to india and other asian countries.The chineese version of the IG will be powered by 988cc petrol engine developing 70bhp and 9.5kgm and driving the front wheels through a five speed CVT box.The electric version will be powered by a lithium ion battery,an 800 bhp/18.3 kgm electric motor.It gives an estimated rate of 150 km.The IG is set to be built at new volvo owner Geely’s Linhai base.