INDIAN TWO-WHEELER major Bajaj Auto and French automaker Renault on Tuesday (November 10), announced their plans to launch an ultra-low cost car in India in 2012. The car is expected to take on the Tata Nano, the cheapest car being produced and marketed by Tata Motors in the country.
Renault chairman and CEO, Carlos Ghosn said that the design, engineering, sourcing and manufacturing of the car will handled by Bajaj, while marketing and sales will be done by Renault-Nissan alliance.
Speaking at the India Economic Summit, Ghosn said that the brand under which the car will be sold will be decided later on. The tie-up between Bajaj and Renault to produce a low cost car was annunced in 2008. The alliance is planning to sell the car at about Rs 1 lakh.
The project was, however, delayed after differences emerged over issues like price, brand and styling of the car. Both the companies are now confident that the work on the project will start soon and the car would burn the rubber on Indian roads in 2012.
Hi, I am Ishaa Goyal from India, by profession i am a journalist. Recently i m covering news on Car Industry News
and Tata Nano Car.I have written number of Automobile related articles.
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