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Indian carmaker Bajaj Auto will be bringing an infra low-cost car that would hit the market in 2012. They have signed an agreement with Renault-Nissan Alliance to manufacture and market this vehicle. This is a dream come true for Bajaj since they were working on the project for a long period
Bajaj will also export the cars outside India. Renault-Nissan CEO Carlos Ghosn said, "We have now a very clear definition not only of the product in term of cost, in term of geometry, but even in term of fuel efficiency and I think it is going to be a very innovative product and a very competitive product, compared to what exists today in the market."
Bajaj will do the design, manufacturing and sourcing for the car. Renault-Nissan will look after marketing in India and overseas. Renault-Nissan will also select the brand for the new car.
Bajaj and Renault-Nissan had announced the formation of a joint venture in May 2008 to develop, produce and market a car code-named ULC. Renault in partnership with India's Mahindra and Mahindra had launched the low-cost Logan car in 2007 in the country. It started off well, but healthy sales soon began to dwindle, with high taxation making the car expensive for its target market.
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