Bajaj to launch Rs 1 lakh car

Bajaj's ultra-low cost car being manufactured jointly with Renault and Nissan promises to give hot chase to the Tata Nano. On Monday, Rajiv Bajaj, MD, Bajaj Auto confirmed the $2,500 (Rs 1.1 lakh) price tag for the car, announced first by Renault chairman & CEO Carlos Ghosn at the company's shareholders' meet late last week.

The Bajaj car will be cheaper than the Nano, which comes at Rs 1.23 lakh-1.72 lakh (ex-showroom Delhi ). After the launch of Tata Nano, the race for the No.2 position in the ultra-low cost car segment is under way in India , which as emerged as the Mecca of this segment. However, other automakers' plans to enter this segment are still on the drawing board.


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