Though the minuscule Tata Nano hasn't even been on the market for a complete year, the impact it's had on the automotive world may be exactly inverse to its size and price. In other words, it's had a huge effect, proving to the world that it's possible to build a business plan around selling super cheap cars in rapidly expanding markets.

You can reportedly add the Shanghai Automotive Industry Corporation (SAIC) and General Motors joint venture to the list of automakers that have taken notice of the Nano. According to reports rolling in from China and India, the 50:50 JV is considering a vehicle that would be positioned below the Chevy Spark/Daewoo Matiz that would sell for as little as $3,500.

So far, GM/SAIC isn't commenting on the reports, but has indicated in the past that it plans to build small vans, SUVs and cars for emerging markets like China and India.

[Source: WheelsUnplugged | Image: Mark Ralston/AFP/Getty Images]