On October 30 Nissan announced it will launch a new small car in Thailand, India and China in March 2010, in an effort to topple the Tata Nano as the developing world's car of choice.

The first new car launched by Nissan specifically aimed at these emerging markets will be called the V -- for versatility -- and Nissan expects a staggering one million sales by 2013.

The first details of the ambitious little auto reveals a gameplan lifted from the Tata Nano: fewer and cheaper auto parts. The V will feature 20 percent fewer parts than the average Nissan and they will be almost totally locally made in their intended markets.

The V will feature a 3-cylinder diesel or gasoline engine, just an 11-gallon (41-liter) fuel tank and highly-engineered plastic in place of less cost- and fuel-efficient steel and aluminium.

The hatchback model will be released in 2010, with a sedan and CUV model in 2011. The car will be sold in Europe and the US in 2011, eventually reaching nearly 150 countries.

Prices were not announced, but the car will probably compete not just with the super-budget-friendly Nano but also with the upcoming Ford Fiesta world car, which is expected to be unveiled with similarly ambitious designs at the Los Angeles Auto Show in December.

Last month the auto publication Edmunds Inside Line reported that the car made for the Thai market will yield 47 miles per gallon (20 kilometers per liter) and feature carbon dioxide emissions that are 40 percent lower than the average passenger car.

Nissan is the eigth best-selling auto maker in the world this year and works in partnership with France's Renault, the 10th bestseller, which would make them the fourth-largest automaker globally when combined.

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