Bajaj set to build Rs 1-lakh car to rival Nano
May 13, 2008 by Initial-M
New Delhi: It may be a small, but it’s a big idea. That is what Bajaj Auto MD Rajiv Bajaj says and the idea is now ready to take shape.
In a tripartite agreement, Bajaj- Renault-Nissan will build a $2,500 car or one lakh rupee car, codenamed ULC.
Interestingly $2,500 – as the company release says – is ” the wholesale starting price range,” which suggests the $2,500 figure is not sacrosanct and even if it stands, it will not be the retail price.
The small car will be Bajaj’s maiden entry into the passenger car market.
Bajaj Auto, will own 50 per cent in the small car JV and Renault and Nissan will hold 25 per cent each.
