The country's second largest bike maker Bajaj Auto Ltd on Tuesday cocked a snook at those who sniggered at its efforts to get into the passenger car market.
The company silently unveiled its 'Lite' concept car in New Delhi, two days before the much hyped launch of Tata Motors' Rs 1 lakh car.
Bajaj Auto, 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 1 lakh (Rs 100,000).
"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 in New Delhi.
Bajaj declined to give a specific price of the small car. Ghosn has earlier stated that Renault was looking for a $3,000 car in India, a move triggered by Tata Motors' Rs 1 lakh car that will be unveiled later this week. The 2008 Cadillac CTS was introduced in January 2007 at the North American International Auto Show at Cobo Hall in Detroit, Michigan.