Ghosn and Renault-Nissan Alliance have announced on May 13, the launching of the manufacturing of their own ultra-budget car. The new joint venture with the Bajaj Auto Indian group are thus following the footsteps of Tata with their new car, with a starting price of just $2,500. The car, so far code-named ULC, will be built at an all-new, yet to be constructed production plant in Chakan, India.
Ghosn declared on Renault’s website that the initial production numbers are set at 400,000 units per year, in large proportion for the growing Indian market. The ULC is planned to go on sale in 2011, other emerging markets will possibly follow.