Rajiv Bajaj, the MD of Bajaj auto said that its price would not exceed $2,500. Carlos Ghosn, the CEO and chairman of Renault also announced about the car at the company’s shareholders’ meeting. The car is going to be produced jointly with Renault and Nissan. The news about this new ultra low cost from Bajaj was confirmed yesterday by Rajiv Bajaj, the MD of Bajaj Auto.
According to him, the price of the new car from Bajaj will cost $2500 which is approximately 1.1 lakhs in Indian Rupees.
Renault announced the Bajaj car just after pulling out of its venture with Mahindra & Mahindra in India. The Bajaj car will offer better mileage compared to the other compact cars in India and it will have a low maintenance cost.
The car will hit the streets of India in 2012. The car will be a tad smaller compared to Maruti Suzuki alto which rules the Indian small car segment.
The company has been claimed that the new small car will be smaller than India’s best selling car Maruti Alto. It will compete with world’s cheapest small car ‘Tata Nano‘. It’s also priced between Rs. 1.2 to 1.8 lakh