Industry News
Bajaj Auto and Renault-Nissan Alliance to build Tata Nano competitor priced wholesale from US$2,500
12th May 2008
Rajiv Bajaj, Managing Director of the Indian two-wheeler manufacturer Bajaj and Carlos Ghosn, President and CEO of Renault and President and CEO of Nissan, today announced that they will form a joint-venture company to develop, produce and market a car code-named ‘ULC’ with a wholesale price range starting from US$2,500. The new joint-venture company will be 50% owned by Bajaj Auto, 25% by Renault and 25% by Nissan.
Targeting the growing Indian new vehicle market, this ULC will be made at an all-new plant to be built in Chakan (Maharashtra state) in India. Initial planned capacity will be 400,000 units a year. Sales will start in early 2011 in India, as the primary market, with growth potential in other emerging markets around the world. Feasibility study work has already extended into joint product development.
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