According to Renault-Nissan Alliance it has signed an accord with Bajaj Auto for making a new car for India and other emerging markets.
Bajaj-Renault are already working on making an ultra-low cost car, which is planned to be launched in 2012.
Bajaj said on Tuesday that its partnership with Renault-Nissan alliance for producing ultra low-cost car continued and the project was on schedule.
Meanwhile, automobile sales in India were up 31.42 per cent during June, helped by favourable macro economic conditions and new models launches across categories, including cars, two-wheelers and commercial vehicles. The first quarter of the fiscal has seen the launch of eight new models and 11 facelifts, that experts say helped the sales in June.
Meanwhile, in a bid to quash reports of a strain in the Nissan-Renault Alliance and Bajaj Auto low-cost car development project for the Indian market, Simon Sproule, director, communications, for the Nissan-Renault Alliance told Business Standard that since last November, there had in fact been ''no new announcements''.
He said that headlines in India had something or the other being announced as being 'new' but in fact there was nothing new since the partnership was formally announced in November last.
He told the newspaper that the two parties were now in the ''working phase of the project'' but had not decided anything on how the car would look like, where it would be built and where it would be sold.