New Delhi, Jan 10 (UNI) Barely hours after the launch of Tata's Rs one lakh car, global car maker Renault today said it will take the final decision in a couple of weeks to form a joint venture with Bajaj Auto for manufacturing a small car in India.
''We are presently doing a feasibility study. We hope we will complete it in one-and-half months,'' Renault's chief (India) Sylvain Bilaine told reporters at the 9th Auto Expo here.
The sale of small cars in the country stands at two-thirds of the total domestic sale, which is expected to nearly double to two million units a year by 2010.
Renault also plans to source Rs 1,200 billion worth of auto parts from the country for its plants across the globe.
Bajaj had earlier said it plans to manufacture a low-cost small car in the country in collaboration with Renault and Japan's Nissan Motor, in which Renault has a 44 per cent stake.
Mr Bilaine said, ''after the feasibility study is over, we will take the next step.
He said the company is bullish on India and will pump in about Rs 4,400 by 2015 in setting up a manufacturing unit and a technology centre, both in Chennai.
The Chennai plant will hava a production capacity of 4,00,000 vehicles a year for Renault and Nissan and will employ 4,000 people by 2010.
The company said the technology centre will aim to develop the country-specific models and employ 1,500 people by 2009.
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