Renault-Nissan boss Carlos Ghosn was in the country for the India Economic Summit, said he had worked out the broad contours of a highly fuel-efficient ultra low cost (ULC) car project with Bajaj MD Rajiv Bajaj that would be out by 2012 (delayed by one year), though refusing to confirm whether the companies had signed a formal joint venture detailing concrete investment and production plans.
While enquired about the pricing of the car and whether it will be cheaper than the Nano, Ghosn said, “I am sure that the cost of the car will be lower than any car made in India”. And he immediately clarified that production cost of the car could be different from its market price.
He added that the Bajaj tag would be absent from the badge of the car even though the Indian carmaker would be the main brain behind its development by using its expertise in frugal engineering and competitive component sourcing. “There would be no bajaj name on the badge of the car,” Ghosn asserted at the press meet where Rajeev Bajaj was not present
It may be noted here that the project that was announced in 2008 has already been delayed, understandably due to differences between the partners on multiple issues, including badging, designing and positioning of the vehicle.