DAVOS: Buoyed by the overwhelming response to Tata Motors' Nano, French auto major Renault on Wednesday said it will rival the world's cheapest car with its own version in partnership with Japan's Nissan.
The company, which was earlier planning to roll out a $3,000 car, has scaled down the targeted price with its CEO Carlos Ghosn hinting that the expected cost would be around $2,550.
The Tatas unveiled the world's cheapest car, priced at $2,500, in New Delhi on January 10. “You're going to see Renault and Nissan coming out with a different car in the same price range for the Indian market,” Ghosn told Bloomberg TV in an interview at the World Economic Forum here.
He said the car is likely to be rolled out 18 months after Tata Nano's launch which is slated to be in the third quarter of this calendar year.
Renault is in talks with Bajaj Auto Ltd to explore the possibility of rolling out a $3,000 dollar car. Bajaj recently showcased its low-cost small car in New Delhi earlier this month.
The company is yet to reveal the price of its low-cost car. Apart from a tie-up with Bajaj, Renault is presently in joint venture with India's Mahindra and Mahindra group for jointly marketing and manufacturing mid-size sedan Logan.
Ghosn's statement comes close on the heels of M&M pulling out of a proposed tripartite manufacturing JV with Renault and Nissan. The three companies proposed to jointly invest $1billion.
The company, which was earlier planning to roll out a $3,000 car, has scaled down the targeted price with its CEO Carlos Ghosn hinting that the expected cost would be around $2,550.
The Tatas unveiled the world's cheapest car, priced at $2,500, in New Delhi on January 10. “You're going to see Renault and Nissan coming out with a different car in the same price range for the Indian market,” Ghosn told Bloomberg TV in an interview at the World Economic Forum here.
He said the car is likely to be rolled out 18 months after Tata Nano's launch which is slated to be in the third quarter of this calendar year.
Renault is in talks with Bajaj Auto Ltd to explore the possibility of rolling out a $3,000 dollar car. Bajaj recently showcased its low-cost small car in New Delhi earlier this month.
The company is yet to reveal the price of its low-cost car. Apart from a tie-up with Bajaj, Renault is presently in joint venture with India's Mahindra and Mahindra group for jointly marketing and manufacturing mid-size sedan Logan.
Ghosn's statement comes close on the heels of M&M pulling out of a proposed tripartite manufacturing JV with Renault and Nissan. The three companies proposed to jointly invest $1billion.
