Apparently inspired by the popularity of the Tato Nano in India, Renault and Nissan CEO Carlos Ghosn wants a piece of the low budget pie. The Nano, of course, grabbed the world's attention when it came out with a base price tag of just $2,500. Speaking last Friday at the Renault annual meeting, Ghosn announced Renault's intention to work with Nissan and the Bajaj Group to produce its own $2,500 car.
It's unlikely that the cheap Renault will be exported to Europe or North America, although it could go to other emerging markets. What is likely is that Renault will produce a battery powered version at a significantly higher price.