The Tata Nano has already registered itself as the cheapest car on sale in the world and as if that wasn’t enough to flock the already congested Indian streets, we now hear of another 2500 USD car being planned for the year 2011. The venture codenamed ULC would see Bajaj Auto, Renault and Nissan joining forces to eventually produce 400,000 units per year in an entirely new plant located in Chakan, Maharashtra. Whilst Bajaj would own 50% of the shares of the joint-venture company, Renault and Nissan would equally divide the remaining share.
