Renault plans ultra low-cost car for India

Partners Renault and Nissan said yesterday they would put on the road an ultra low-cost car in alliance with Bajaj Auto in the Indian market in 2012 to take on Nano, the world's cheapest car from Tata.
"The ultra low-cost car will come to the market in 2012," said Carlos Ghosn, chief executive officer, of the joint venture between French carmaker Renault and Japanese Nissan on the margins of an economic summit in New Delhi on Tuesday.
Bajaj Auto, the leading Indian two-wheeler and three-wheeler manufacturer, will design and manufacture the proposed low-cost car and Renault-Nissan will market it, Ghosn told reporters.
He declined to disclose the price at which the new car will be sold. The four-door hatchback Tata Nano, which hit the streets of India earlier this year, is available at around $2,000.