Bajaj Auto Managing Director Rajiv Bajaj said that the core customers for the product are those who use a three-wheeler. He said the RE60, powered by a 200cc rear mounted petrol engine could also be sold in overseas markets where BAL’s three-wheelers are exported. Bajaj Auto said the company had spent nearly four years in developing the product that has a top speed of 70 kmph with a highest mileage of 35kmpl. “This vehicle has been designed for intra-city passenger transport keeping in mind intra-city duty cycles and safety requirements,” he added.
He said that the company expects a big growth opportunity by targeting the three-wheeler segment. Bajaj Auto, however, did not share sales targets for the new product but said opportunities are not only in the domestic market but overseas as well. “We make about 5,20,000 three-wheelers a year of which only 2,00,000 are sold in India and rest exported. So we see markets like Sri Lanka, which could be the first export market has huge potential for RE60,” he said.
The reports also mentioned that the company stated the Renualt-Nissan alliance which had evinced interest in its car, have not seen the product yet and will be seeing it at the Auto-Expo. ``Once they see it, we will decide the way forward,’’ said officials. As per an agreement with the Renault-Nissan alliance, BAL was supposed to develop and manufacture the vehicle and sold under the badge of the alliance. In January, 2008 BAL had unveiled its concept passenger car with an expected price of $3,000. It had partnered Renault-Nissan for the ultra low cost (ULC) car project. The ULC was first scheduled to hit the roads in India in 2011, but was delayed due to differences between the partners on pricing and design. While Renault-Nissan wanted to price the car at around $2,500, Bajaj insisted on lowering the overall cost of ownership. In 2010, Renault-Nissan announced the signing of a memorandum of understanding with Bajaj Auto to take forward their ULC car project.
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