By IANS,
New Delhi : Bajaj Auto Ltd Saturday said its small car, being developed in partnership with Renault SA and Nissan Motor, will be rolled out in 2011 as per schedule.
Bajaj managing director Rajiv Bajaj said: “The project remains largely on schedule, though in the course of development some specifications have been reviewed, leading to adjustments in the overall schedule.”
It had been reported in a section of the media that the ultra low-cost (ULC) project would be delayed by more than a year as Rajiv Bajaj was not happy with the work done so far, and he demanded major modification in the design.
“Bajaj categorically denies that the project is delayed by any significant period such as a year, as has been erroneously reported,” he added in a statement.
The report also cited insufficient and slow investment infusion into the project by Nissan and Renault as another reason for the delay.
“Bajaj has primary responsibility for the design, development, manufacturing, and supply chain activities of this project. Bajaj is proceeding as before to implement this project and any financial or other constraints that Renault-Nissan may have, have no bearing on the ability of Bajaj to implement this project,” Rajiv Bajaj said.
Announced last year, the ULC is pegged as a direct competitor to Tata’s small car Nano, priced at Rs.100,000.