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Bajaj Auto and Renault-Nissan have come out with a solution on their ultra low cost (ULC) small car project. The agreement was signed on 10-11-09 to launch the ULC small car in India in 2010 at price at Rs 1.5 lakh.

“The Renault-Nissan Alliance has decided to develop an innovative new four-wheel product in partnership with Bajaj Auto Ltd. We intend to bring this highly price-competitive and fuel-efficient product to the Indian market in 2012.” as said by Carlos Ghosn, Chairman and CEO, Renault-Nissan Alliance.

He added, “The design, engineering, manufacturing and supply-base expertise to create this all-new product will be executed by Bajaj with the support of the Renault-Nissan Alliance. The marketing and distribution will be led by the Alliance, with the support of Bajaj.”

”We not only see demand for this type of highly innovative product in the Indian market, but also in other emerging markets where creating affordable personal transportation is so critical, quoted Ghosn.

He concluded by saying, “My visit to India has reinforced my belief that this market will be increasingly important for the Renault-Nissan Alliance. I am confident we will continue to develop the right plans with the right partners to be successful in India.”

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