what about the mileage? the car also needs to be highly fuel efficient, if it wants to be a real "cheap car". being 2-3 kmpl more efficient than Alto, won't really be considered a big advantage.
HAHA, can you list a single model in that range? Infact, the range has just been introduced in the markets with the launch of the Nano!!!
At only 54mpg you can get gas powered cars that will match that. Compressed air is one of the absolute worst ways to store energy. And at 750kg can you imagine what would happen if a suv or semi hit it? There is no way this thing would pass DOT crash test ratings. I prefer Peugeot 107