Renault mulls super-low cost car

Renault mulls super-low cost car
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First Published: Thu, Jun 14 2007. 02 07 PM IST
Updated: Thu, Jun 14 2007. 02 07 PM IST
Reuters
Paris: Renault said on 14 June it was considering creating a super low-cost car for emerging markets but would not comment on the details of a report which said it aimed to create a $3,000 vehicle in India.
Le Figaro newspaper said the French car manufacturer planned to hire 1,000 engineers to design a super low-cost model within three years. The new car would not be sold in Europe.
“We are indeed thinking about a car priced more competitively than (the) Logan (model) for emerging markets,” a Renault spokeswoman said without giving details.
Renault has been selling a locally-assembled Logan model in India since May.
The car maker is building a second plant in India which will start rolling out cars in mid-2009. It does not have a design centre in the country.
The paper said the project would be discussed by Renault’s central works’ council soon.
Renault shares rose 2% to 111.28 euros by 0716 GMT.
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First Published: Thu, Jun 14 2007. 02 07 PM IST
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