The tiny Tata Nano (aka, the world's cheapest car) hasn't even come out yet, but the company already has plans to develop an electric sibling.

Tata Motors was short on details when it made the announcement at the company's annual general meeting. However, we do know that the project is being undertaken and launched in Norway. Manufacturing will take place there as well. The delivery date is expected for the current fiscal year and could expand to India and beyond soon after.

This isn't Tata's first foray into the electric vehicle market. The company inked a deal with Chrysler earlier this year to electrify the Ace, a small utility truck, for export to the U.S. A battery-poweredNano certainly won't be as thrifty as its brother, but the little car could make a big splash in the plug-in car world.

While American automakers have spent the past couple decades making powerful behemoths, companies in other countries have been positioning themselves for thrift and innovation. A quick retool may not be enough to keep the Tatas of the world from waving bye-bye (and honk their tiny horns) as they pass the Big 3 a few short years from now.