In Uttarakhand, the speculation is rife that Bajaj-Renault is trying to explore the possibility of the small car establishment at various places including the industrial hub of Pantnagar.
The alliance has already pushed back the launch deadline twice over the last three years.
The small car market of India is booming like never before.
Japanese auto major Honda on Wednesday said it will focus on India and China for future growth as sales in developed markets like the United States and Europe continue to drag due to the global economic downturn.
It seems like after Tata Nano, Maruti Cervo and Bajaj-Renault-Nissan's ultra-low-cost car plans it's Toyota's turn to bring out a product for the entry level segment.
The ultra-low-cost small car being jointly developed by Bajaj, Renault and Nissan is expected to hit Indian roads by 2010. Renault and Nissan CEO Carlos Ghosn, who was on a visit to Bajaj Auto in Pune on Monday, said that he hoped the prototype of the car will be completed by the end of this year. The car is expected to cost US $3,000 and will compete with Tata Motors' Rs 1 lakh car due next year.
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