Friday, November 7, 2008

Renault and Mahindra, Bajaj Auto ventures curbed

French major Renault SA has begun to alter its India strategy, keeping pace with changing market realities and also the different partnerships it has forged in India.

Renault has a 49:51 joint venture with Mahindra & Mahindra, besides being part of a three-way partnership with sister company Nissan and Bajaj Auto for manufacturing the ultra low cost car.

On the low-cost car front, Bilaine said the avowed price tag of $2,500-3,000 would be very difficult to maintain in the current global meltdown scenario.

“We are in the middle of a financial crunch. The rupee has plummeted and the inflation is also very high. It (to maintain the price point) is very challenging. We are still working on the principles of $2,500.”

The low-cost car project is initially only for the Indian market, slated for launch in 2011 and eventually 3 lakh units of the car would be manufactured per year. To read more, please, visit - DNA

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