Renault, Nissan and Bajaj Auto form 3 way JV for small car
HONG KONG (MarketWatch) -- Indian motorcycle major Bajaj Auto, Japan's Nissan Motor Co. and France's Renault Monday announced a 3-way joint venture in India to make a small car with a wholesale price range starting at $2,500. The car, code-named ULC, will be made by the venture, in which Bajaj will hold a 50% stake, while Nissan and Renault will each hold 25%. The ULC will be made at a factory in the western Indian state of Maharashtra, with an initial planned capacity of 400,000 units a year. Sales are expected to start in early 2011 in India.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – May 12, 2008 07:45 AM [GMT]
found in Business: Markets
HONG KONG (MarketWatch) -- Indian motorcycle major Bajaj Auto, Japan's Nissan Motor Co. and France's Renault Monday announced a 3-way joint venture in India to make a small car with a wholesale price range starting at $2,500. The car, code-named ULC, will be made by the venture, in which Bajaj will hold a 50% stake, while Nissan and Renault will each hold 25%. The ULC will be made at a factory in the western Indian state of Maharashtra, with an initial planned capacity of 400,000 units a year. Sales are expected to start in early 2011 in India.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – May 12, 2008 07:45 AM [GMT]
found in Business: Markets
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