Small car in 2-4 yrs but not for Rs 1 lakh: Bajaj

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Bajaj Auto Ltd, the country's second biggest two-wheeler maker, said it plans to bring out its small car in collaboration with Renault and Nissan within four years but it will not be for Rs one lakh.

"I know Carlos Ghosn (President and CEO of Renault and Nissan) has set a target of 2010 for Bajaj-Renault car. While it is hard to put any time-frame, we can say in two-four years we can expect to have the product ready," Bajaj Auto Managing Director Rajiv Bajaj told reporters.

Bajaj declined to give a specific price of the small car.

Ghosn has earlier stated that Renault was looking for a USD 3,000 car in India, a move triggered by Tata Motors' Rs one lakh car that will be unveiled later this week."

But definitely, the small car from Bajaj will not be a Rs one lakh nor a Rs 10 lakh car. Price is not the centre of the product, but it will offer twice the fuel economy that the existing products in the market," he said, adding the car could be powered by both diesel and petrol engines.

BAL and French carmaker Renault are currently undertaking a feasibility study for partnership in the small car project and is expected to be completed by next month, he added.

Bajaj said a new manufacturing unit at Chakan would be set up, which in "all probability" will produce the car. The unit will also make a light commercial vehicle that BAL will launch in the first quarter of 2009. It will have an initial capacity of 250,000 units per annum.