Navaratna-Tata Nano Car

 One for the jewel carriageway: World's cheapest new car coated in £3m of gold, silver and gems. The world's cheapest new car has been turned into one of the planet's most expensive after it was covered with £3 million worth of bling. The Tata Nano, which normally sells for under £2,000, has been coated in gold, silver and gems in recognition of India's booming economy and 5,000 year-old jewellery trade. Thirty artists were employed to decorate the tiny car in 80kg of 22 carat gold, 15kg of silver and 10,000 semi precious stones and gems.

Flashy motor: Today Tata unveiled its 'Nano' car crafted in gold, silver and gem stones in Mumbai, India, and below the amount of precious metals and stones used in the one-off design is shown clearly side on. Billionaire businessman Ratan Tata - who recently bought Jaguar Land Rover to add to his collection of car companies - ordered the one-off design to celebrate the strength of his country's growing wealth and mark its history. Paying homage to 5,000 years of jewellery tradition in India, Tata Motors said it had created the world's first 'jewellery car'. Unveiling: Ratan Tata, chairman of Tata Group, standing next to the car which he says celebrates 5,000 years of jewellery making in India. Fascinated: People stare at the Goldplus car covered in 80kg of 22 carat gold, 15kg of silver and 10,000 semi precious stones and gems.  Aimed at emerging middle class, the original Nano that launched with a 100,000-long customer waiting list in 2008 has seen sales plummet.

Founded: 1945

Headquarters: Mumbai, India

Profits: £1.3bn in 2010/2011

Employees: 50,000

Sales per month: 75,000 vehicles

In August the Mumbai-based group shipped just 1,202 units, down 88 per cent from April's 10,012 units. Analysts blame the Nano's poor safety record as several incidents of the cars spontaneously bursting into flames were widely reported. Its existing Nano customers were offered a safety upgrade to its electrical and exhaust systems. But despite the problems the company announced on Monday it would invest £355 million in building a new engine plant at Jaguar Land Rover near Wolverhampton.