Pics: Bajaj's Small Car

[abhinav.gupta88]

Great news Guys.
The nano has not been launched as yet and already there is a competitor.

Yes its out.

Bajaj making a Rs. 1 Lakh car in colaboration with Renault-Nissan

A new company will be made with Bajaj holding 50% stake and Renault-Nissan 25-25% each.

The car would come out by Early 2011
The plant for the company is expected to be placed at Chakan maharashtra with an initial capacity of 4 Lakh cars.

Source: Zee Business 2:20 am 13th May,2008

[Dolphin]

Here is the news:

Renault-Nissan head Carlos Ghosn and Bajaj's Rajiv Bajaj unfolded their joint venture plan on Monday, announcing a low-cost car at $2,500 (Rs 1 lakh) to be manufactured in India. The car is expected to hit the road early 2011, a little more than two years after Nano, which is scheduled to roll out in September-October.

Sources said the Bajaj-Renault-Nissan car would come in both petrol and diesel options. "Initially, it would come with a petrol version and diesel would follow," they said. However, apart from revealing the price tag, the two companies refused to give details regarding investments, engine capacity, and fuel efficiency.

Sources added that a three-way MoU (memorandum of understanding) could be signed by June with the companies now busy on finalising the technical and legal nitty gritties of future engagement.

In a statement issued on behalf of Bajaj and Ghosn, the companies said they they would form a joint-venture to develop, produce and market the low-cost car code-named 'ULC' (most probably Ultra Low Cost). The new JV will be 50% owned by Bajaj Auto, 25% by Renault and 25% by Nissan (a group company of Renault).

While sceptics had initially doubted the viability and potential of a low-cost car segment priced below $3,000, Ratan Tata went ahead with his dream project, which saw others also drawing plans. Ghosn, who has already tasted success in emerging markets with his 'no-frills' Logan, feels that a new low-price compact not only has potential in a big market like India but can also be pitched well in other similar markets abroad.
Bajaj-Renault-Nissan would manufacture the proposed car at Chakan, in Maharashtra, where Bajaj already has a plant. "Initial planned capacity will be 400,000 units per year. Sales will start in early 2011 in India, as a primary market, with growth potential in other emerging markets around the world," the companies said.

For more: Now, Bajaj set to roll out Rs 1 lakh car-India Business-Business-The Times of India

[arunmur]

Looks like by 2012 we will have a overcrowded 1lakh rupee carmarket

There will be cars from
1) Tata
2) Nissan-Renault-Bajaj(may be three different cars like the Toyta Aygo and club)
3) Hyundai
4) GM


Every body then will be able to afford cars but they will not be able to drive them as petrol prices would be skyrocketting by then. And our Infrastructure will appear to be in tatters.

[karanraheja]

Bajaj Claims that the USP of Lite will be the fuel efficiency .
Lets see how it goes.