India’s Tata Nano could get serious competition from Africa’s least expensive car image

While the Indian project failed to make the forecasted impact, the fact that Africa remains one of the poorest regions in the world could provide a boost to a project that aims to bring the continent’s cheapest car to life.

Also, as the Nano model is already been selling – albeit poorly – for some time now, the Black Continet’s cheapest new car is still quite along way to go. The project belongs to a Kenyan startup car-manufacturing company, called Mobius Motors.

Now, because we’re serious in treating our news, we only bothered with the planned African car unless it was well worth the effort. According to a report in Kenya’s Business Daily, US billionaire Ronald Lauder has already provided the initial capital for the company to produce its first 50 cars.

Lauder, with a net worth of around $4 billion, is using his New York-based, African-focused investment unit, Pan African Investment Co (PIC), for providing the startup with the money, as the company aims to provide solutions to African companies which aim to impact its social problems.

Back to the car, named Mobius, it was developed by 29 year-old Kenyan computer engineer Joel Jackson and should cost $10,000 – after cost problems made the company raise the price from the initial $6,000. The car is off-road focused – as many African nations don’t have a developed road infrastructure – and has stripped away unnecessary parts to keep the price down – letting go amenities like power steering or air conditioning.

Via Forbes