Bajaj project for small car

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.