Japanese auto maker Nissan is working with Bajaj to come out with "ultra low cost car” by early 2010. The car, with 90% localisation, will be priced aggressively in the volume segment.

Carlos Ghosn, president and CEO of Nissan, said, “Nissan will compete in the entry-car with a dedicated platform that will be used for at least three models built in five leading competitive countries (LCCs), the first of which will be produced in Thailand and India in early 2010.”

While lecturing at Nissan’s earnings conference at Tokyo, Mr. Ghosn stated that the car, based on A-platform, would be easily available and localize in the leading competitive countries (LCCs).

“Supporting a high level of cost competitiveness while offering an attractive vehicle choice for entry-car customers,” he added.

He also said, “Today, Nissan has zero entry-car sales, so there is plenty of room for improvement.”

Moreover, Nissan aims to sell more than 2,00,000 vehicles in the Indian market by 2012 for which it would leverage from local expertise.

Carlos Ghosn, Nissan Motor Co Ltd President and CEO, said, “In India, we have made a strategic decision to work with partners to speed our entry into the market and to leverage local expertise, building on Nissan's proven track record of success with collaborative relationships.”

"In India, our volume is expected to increase to more than 2,00,000 units in the fiscal year 2012,” Mr. Ghosn added.

While making announcement about the company's result for financial year 2007, Mr. Carlos said that the company would also establish a technical centre in Chennai in association with Renault, where they are developing a 400,000-unit per year facility for passenger cars. Together, the Renault-Nissan alliance is the fifth largest automakers in the world.

With Ashok Leyland, Nissan has a joint venture to make light commercial vehicles, Ghosn said.

With Maruti-Suzuki, it will export A-segment cars to the European market, he said.