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Renault-Nissan annouces their £1,250 car
By Yoann Besnard on 13 May 2008 | 
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Renault-Nissan has given the green light to the future Nano competitor due to be launched by 2011.
The news doesn't come as a surprise as Petrol-Head regularly covered the future Nano competitors the last months. Until now, the carmaker which teams up with Bajaj Auto, was studying the feasibility to build a Nano competitor. As predicted, the future model will be sold for £1,250.
Renault-Nissan and the Indian motorcycle manufacturer will set up a new joint venture which will be 50% owned by Bajaj Auto, 25% by Renault and 25% by Nissan.
Targeting the growing Indian new vehicle market, the ultra low cost model will be made at an all-new plant to be constructed in Chakan in India with a an initial planned capacity of 400,000 units per year.
