Renault and Nissan’s CEO Carlos Ghosn is still betting big on the ultra low-cost car segment and reaffirmed that the group will have a Tata Nano competitor, in a partnership with Bajaj Auto, by 2011. Speaking at the India Economic Summit, Ghosn said that the compact car is still a goal not only in India, but even globally and the three partners were working to get one on the road by two years.

“The entry price point, which will be $2,500 is still very important for the market, not only for India, but also for lot of emerging markets,” Ghosn said. “We have to bring in the car with basic feature, basic functionality at a very affordable price.”

In earlier press release, Nissan said that “initial planned capacity will be 400,000 units per year. Sales will start in early 2011 in India, as a primary market, with growth potential in other emerging markets around the world.

“I know that some of our competitors like Tata has already put the car in the market … its moving on. We will continue to work to bring in this car (with Bajaj) into the market,” Ghosn said.

- By: Omar Rana

Source: The Economic Times