Bajaj-Renault-Nissan takes up challenge of $2,500 car

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.