According to Climate Change Corp, the Air Car will be released this year thanks to a $30,000,000 investment from Tata. Months ago, we told you about reports in The Age newspaper and BBC News that MDI, Moteur Development International, said the car would be released in 2008. We dialed back our enthusiasm when we read in an Indian paper that Tata said the car sill required two years' work. Fears concerning a delay were confirmed when Oil Drum asked MDI about these concerns and it stated a release this year was dependent on investment. That money has now been promised.

Tata has invested in the Air Car before, and the company is not officially saying whether the investment pushed up the Air Car's release date. MDI spokesperson Alan Zaire does say there is "no shortcoming in technology" and that the company has "resolved [its] financial problems." So, look for the Air Car to be launched in France late 2008 or early 2009, with an exclusive release in India by Tata (maybe based on Tata's hatchback). The cars are powered by compressed air, have a top speed of 68mph, a 125-mile range and will fill up in minutes at a cost of $2. Thanks for the tip, Steve!

[Source: ClimateChangeCorp]