The Rs.1-lakh Nano will soon enter the elite league thanks to auto design firm DC, which today said it will unveil a redesigned version of the world’s cheapest car within the next two months with a premium price tag of Rs. 1 crore.

“The Rs.1-crore Nano will be ready for public unveiling within the next two months. We will make one car to begin with, but if there is more demand than we will make additional units,” DC Designs Promoter Dilip Chhabria told reporters on the sidelines of the 10th Auto Expo here.

He said the design and development of the car would involve an expenditure of around Rs. 1 crore, of which the company has already invested 90 per cent.

“However, I don’t think that there will be much demand for the car. For us it is more a case of showcasing India’s prowess in the global automotive design market,” Chhabria said.

He said that Tata Motors, the maker of Nano, is not involved in the redesigning process.

“We already have a couple of Nanos with us and our redesigning was carried out in those cars. The Rs.1-crore car designed by us will be fitted with lot of high-end technologies” he said without giving more details.

DC Design today unveiled its Super Sports utility vehicle - DC Imperator - which is powered by Audi’s 6.0 litre V12 TDI engine and fitted with 28 inch wheels.

Chhabria also said the company plans to launch at least 20-25 new redesigned vehicles by the end of this year.

“The new vehicles will cater to all segments, including entry level cars, SUVs and MPVs,” he added.

The company also said it has tied-up with Pune-based educational chain - D Y Patil Group - for setting up an automotive design institute, which will impart full time undergraduate (UG) and post-graduate (PG) degrees.

The new institute in Pune - DC Centre for Automotive Research and Studies - will start taking students from August this year.

“This academic year we will take 60 students for the UG and PG batches in Automotive Styling. Within three years, we will have an annual capacity of 480 students and will also open courses in Automotive Engineering and Automotive Management,” he said.

Chhabria added the institute is intended to cater to the growing demand for professional auto designers in India.

Regarding the company’s plans to foray into the Chinese market, he said, “in 2011, we will take part in either the Shanghai or the Beijing Auto Expo, where we will showcase two vehicles. We want to explore the market there.”