Geely to be maker of world's cheapest car

Chinese automaker Geely will soon usurp Tata Motors' crown as producer of the world’s cheapest car. Geely is developing its own mini car, called the Gleagle IG, that will be even more affordable than Tata’s Nano. With a $2,250 price tag, it beats the Nano by almost a grand.

Geely’s IG is set to be sold in China first in 2012 before rolling out to other countries. While we’re not exactly sure what the new IG will look like, Geely IG Fantastic concept car, which debuted at last year’s Shanghai Motor Show, featured a single gull wing door and roof- and hood-mounted solar panels that can power the car’s climate system.

While one might question how safe a car can be in that price range, Geely has said it is intent on surpassing the Nano in quality and design, building a solid metal vehicle instead of a mostly plastic affair like the Nano.

Folks, this is how you know the automotive market is nearing its evolutionary peak: when you can now buy a car for less than a lawn tractor or golf cart. We’re not sure how the IG will fare careening around the streets of Shanghai, but chances are, Chinese consumers will lap it up.