Rumor has it that Chinese carmaker Geely, which most might recognize as the manufacturer that took Volvo off of Ford's hands, aims to do just that in 2010, likely with a version of the IG Fantastic concept it unveiled in Shanghai last year. (The gull-wing doors most likely won't make the cut.)

As for stats, the 1-liter engine pumping out an underwhelming 70 horsepower probably won't get your pulse pounding, but -- depending on what does it for you -- the projected sticker price of only $2,250 just might.

Of course, the likelihood is that whatever vehicle Geely eventually produces isn't headed for the States any time soon (good luck with it, China and India). However, from a theoretical standpoint -- i.e., cars can be functional, reliable (as by all accounts the Nano is) and, best of all, cheap -- competition for the Nano's low-cost crown is a good thing.