Now I hate to burst your bubble, but the Tata Nano will never see the streets of the United States. First let me say, I think the Nano is a great idea, and it will be Great! for India, and other developing nations.
The reasons it will never come to USA. Its MPG are good, but overall performance is lacking (would be expected right). 33 HP, Max Speed of 50 MPH? Made from welded steel components. Its TINY, Americans are generally larger people than Indian people. In India, if you are lucky enough to have a car, its small. In America, if you have a car.. its likely large (in comparison to the NANO). So, if it went on sale here. You have a 1000lb car pull out of a Ford F150 doing 60mph(88ft/sec) on a road. The nano takes 14 seconds to accelerate to 43mph. Do you see the potential for disaster? Getting hit in the Nano would probably be like getting hit on a Goldwing (they weigh about the same). Except in the Nano, your stuck in a crushed metal cage. It would never pass the Crash test ratings. Cherry has a better chance of taking a market share in the USA, but even they will have a hard time (meeting the standards isnt ok.. You need to beat the standards for people to buy cars)
We all complain about gas prices, but people still buy SUVs, Pick Ups ect. There are the select few who buy the foreign cars, the hybrids. I think Americans need to curb their addiction to oil (and we will) but its going to be at a cost of US auto makers, unless they do something, and quickly at that.
As for Ford, Hopefully they will invest more heavily in hybrids, CNG vehicles, (hydrogen is a good idea, but not practical right now in the USA)