Nissan has announced that they will also join the budget car race in India by producing their first $3000 car for Indian road. “We will be part of this competition”, said Carlos Ghosn, Nissan chief executive. However, the company is still trying to figure out a way to manufacture these budget cars with profits. The Nissan executives and the technical team is looking into the feasibility of these new cars and they have fixed a date to come up with the results.
A few months back, Tata Motors have announced that they are working on a car model which will strike the market with a price tag less than $3000. With the new budget cars, Tata Motors actually plans to take over the Indian Car Market from the Maruti Udyog Ltd., a Japan’s Suzuki Motors Corp funded company.
In the new venture, Renault will also be in the scene as Nissan’s partner. In fact, Renault has already launched an Indian version of its low cost car and they have set up their target to produce 50,000 cars every year with its local partner Mahindra and Mahindra. Renault and Mahindra announced their joint venture of creating a new factory in Chennai in November last year. Now, Nissan has also joint the new budget car race!