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It's just two days before the debut of Tata's $2,500 car and a major U.S. car maker blinked. Ford said Tuesday it will invest $500m in a vehicle plant in India. Ford also says a significant part of that investment will go toward making a small, inexpensive car. Ford is not alone in trying to grab headlines away from Tata.

New details are coming out about Rs 1-lakh, Tata Group's $2,500 car, and the details are very green. According to the India Times, RA Mashelkar, an independent non-executive director on the Tata Motors board, says the Rs 1-lakh is an "eco-car" and it will get 59 miles per gallon. Here is the exact quote:

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