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Renault-Nissan announce plans for infra low-cost car with Bajaj | Indian carmaker Bajaj Auto has signed an agreement with Renault-Nissan Alliance to manufacture and market an infra low-cost car that would hit the market in 2012. "We've been
working for a long time on infra low cost car that should come to India but could
also be exported from India. I have the pleasure to say that yesterday we made
an agreement, the infra low cost car will come to the market in 2012," Renault-Nissan
CEO Carlos Ghosn announced on Tuesday. "We have now a very clear definition not
only of the product in term of cost, in term of geometry, but even in term of
fuel efficiency and I think it is going to be a very innovative product and a
very competitive product, compared to what exists today in the market," he added.
The design, manufacturing and sourcing for the car would be done by Bajaj, while
the Renault-Nissan will look after marketing in India and overseas. "The design,
the engineering, the manufacturing, resourcing of the product will be made by
Bajaj with the support of Renault-Nissan alliance. When it comes to marketing
and selling the product, this will be done by Renault-Nissan under a brand which
will be selected by Renault-Nissan," Ghosn said. Bajaj and Renault-Nissan had
announced the formation of a joint venture in May 2008 to develop, produce and
market a car code-named ULC. Renault in partnership with India's Mahindra and
Mahindra had launched the low-cost Logan car in 2007 in the country that started
off well, but healthy sales soon began to dwindle, with high taxation making the
car expensive for its target market. |
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