Bajaj Auto, which is planning to launch its low-cost car by 2011, said any financial or other constraints faced by its partners, Renault-Nissan, will not affect implementation of the project, but did not rule out some adjustments in the schedule.
TATA Motors is going full steam ahead with its distribution and financing plans for its Rs one-lakh car Nano. And like its engineering, both the retail and financing models being worked out for the Nano are innovative too.
Bajaj Auto Ltd (BAL) has decided to joine hands with Renault-Nissan to launch a small car in India by 2011. Rajiv Bajaj, Managing Director, Bajaj, and Carlos Ghosn, President and CEO, Renault, and President and CEO of Nissan, on Monday formally announced that they would form a joint venture company to develop, produce and market the car, code-named ULC, with wholesale price range starting from $2,500.
Targeting the Indi an four-wheeler market, Bajaj Auto Ltd (BAL) on Monday joined hands with Renault-Nissan to launch a small car in India by 2011 that will compete with Tata Nano. In a joint press statement on Monday, Mr Rajiv Bajaj, managing director, BAL, and Mr Carlos Ghosn, president and CEO, Renault and Nissan, said that they would form a JV company to develop, produce and market the car, code-named ULC, whose economy version would be priced at $2,500.
The joint announcement by Bajaj, Renault and Nissan about plans to develop and produce a new ultra low-cost passenger car finally puts to rest speculation about whether Mr Carlos Ghosn, President and CEO of the Renault-Nissan alliance, was being serious about taking up the challenge or whether he was just indulging in a bit of wishful thinking.
