News in the media about Bajaj Auto having scrapped Renault India Low-Cost Car Joint Venture for Supply Agreement has been put to rest with Bajaj Auto confirming that the partnership is intact, and the project is on schedule. As per the understanding reached between Mr. Carlos Ghosn, President, Renault-Nissan Alliance and Mr. Rajiv Bajaj, Managing Director, Bajaj Auto in November 2009, Bajaj Auto is responsible for development/manufacture while Renault-Nissan are responsible for marketing/sales. The company says that “As such we can fulfill our mutual objective through a simple Original Equipment Manufacturer (OEM) arrangement, and without the need to necessarily create a new corporate entity in the form of a joint venture (JV). Hence in our view this status is neither new, nor any different from that of November 2009.”
