Bajaj Auto Ltd(BAL), the second largest two wheeler company in India has joined hands with Renault-Nissan to launch a small car in India by 2011 that will compete with Tata Motors’ Nano on price point - Rs 1 lakh.
Managing Director of Bajaj, Rajiv Bajaj and President and CEO of Renault and President and CEO of Nissan, Carlos Ghosn, together has announced that they will form a joint-venture company to develop, produce and market the car whose name code is ULC.

In this joint venture French car maker Renault and Japan-based Nissan would hold 25 per cent stake and Bajaj would hold 50 per cent stake. This venture has targeted to grow Indian new vehicle market and the ULC will be made at an all-new plant to be constructed in Chakan (Maharashtra). The plant would have an initial production capacity of four lakh units per year.

Lets see if they are really able to compete the market; or will NANO have already caputured the market by then…

Categories: Tie-Ups
Tags: 1 lakh, Auto, Bajaj, bajaj auto ltd, car, features, French, Indian, Japan, joint venture company, largest, nano, Nissan, President, Renault, renault nissan, small car, tata, tata motors, venture