The Renault-Nissan Alliance and Bajaj Auto announced their plans to build the code-named Renault Bajaj ULC - a 2500 USD car. The new company that will build the Renault Bajaj ULC will be owned 50% by Bajaj, 25% by Renault and 25% by Nissan.
The new Renault Bajaj ULC will be built at an all-new plant to be constructed in Chakan (Maharashtra state) in India. Initially the Renault Bajaj ULC will be built in 400,000 units per year and sales will start 2011 in India, as a primary market, with growth potential in other emerging markets around the world.
Renault announced that the projects is on line to
meet targeted performance and cost.
