Ok, nobody really knows what the Nissan-Renault-Bajaj ULC car will look like, but we'll bet it won't be dowdy...
After the Tata Nano created the Rs one lakh car segment, other companies also want a slice of the action. And quickly moving ahead in the race to offer ultra low cost cars in India is Renault-Nissan, who’ve tied up with Bajaj for the same.
The Renault-Nissan-Bajaj small car, codenamed the ULC, will be built at an all-new manufacturing facility in Chakan, near Pune, and initial capacity will be four lakh units per annum. Apart from selling the car in India, the company will also look at exporting the car to other emerging markets.
Bajaj will hold a 50 percent stake in the small car JV, while Nissan and Renault will hold 25 percent each.
