Renault, Nissan and Bajaj come together to produce a small car that will cost Rs one lakh — the same as Tata’s Nano. On sale from 2011, the car will be produced at Chakan in Maharashtra near the existing manufacturing facilities of both Bajaj and Renault. Ravi Krishnan and Ammar Master have the story in Mint
Renault SA, Nissan Motor Co. and Bajaj Auto Ltd said in a joint statement that they would collaborate to produce a small car that would cost around $2,500 (Rs1 lakh), making it the second car in the world and in India with ambitions to be the cheapest four-wheeler on the road.
The three firms will set up a joint venture company in which India’s No. 2 motorbike maker, Bajaj, will hold the single largest majority with half the ownership, while partners Nissan and Renault will hold a quarter each. On sale from 2011, the cars—some 400,000 of them each year—will be produced in Maharashtra, at Chakan, near the existing manufacturing facilities of both Bajaj and Renault.
Similar Posts:
- India’s electric car to be made in US
- Raj Thackeray on his politics and policies
- China & India: Why cooperation matters
- In India, a developing case of innovation envy
- India worries as China builds ports in South Asia
0 Responses to “The other Rs one lakh car”
Leave a Reply