Renault-Nissan and Bajaj Auto have entered into a deal to roll out the ultra low cost compact car in India and emerging markets by 2012. Bajaj Auto has already showcased the concept version of its small car at the Auto Expo and involvement of Renault-Nissan gives it much more option and access to world renowned technology.
The success of the Tata Nano is playing on every manufacturers mind and everyone wants to compete with it and why not? Tata Nano has taken the market by storm and the irony is that when Ratan Tata planned to roll out a ultra low cost 1 lakh rupee car, auto majors including Suzuki called him insane. GM is also working on the low cost car and competition is hotting up in a segment which is destined to be ruled by the Nano for the time to come.
