Life & Style | Motoring
Bajaj Auto to build $2,500 car
The Renault-Nissan French and Japanese auto alliance said on Monday it's forming a joint venture with Bajaj Auto of India to develop, make and sell an inexpensive car there with a price starting at $2,500.
- AP
- Published: 00:03 May 13, 2008
Tokyo: The Renault-Nissan French and Japanese auto alliance said on Monday it's forming a joint venture with Bajaj Auto of India to develop, make and sell an inexpensive car there with a price starting at $2,500.
The companies had been talking about such a plan amid efforts by many carmakers to woo India's burgeoning middle class with models priced around that level.
Nissan, which has been eager to move ahead with plans for a cheap car offering in India, said the car, code-named ULC, will be made at a new plant in Chakan in India, with annual production capacity of 400,000 vehicles.
Sales are scheduled to start in early 2011, Nissan said. The joint venture will be 50 per cent owned by Bajaj, 25 per cent by Renault and 25 per cent by Nissan.
The Nano car from Tata Motors of India is expected to roll off assembly lines later this year and is expected to sell for Rs100,000, about $2,400.
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