Renault says mulling super-low cost car

Paris, June 14: Renault said today it was considering creating a super low-cost car for emerging markets but would not comment on the details of a report which said it aimed to create a $3,000 vehicle in India.

Le Figaro newspaper said the French car manufacturer planned to hire 1,000 engineers to design a super low-cost model within three years. The new car would not be sold in Europe.

''We are indeed thinking about a car priced more competitively than (the) Logan (model) for emerging markets,'' a Renault spokeswoman said without giving details.

Renault has been selling a locally-assembled Logan model in India since May.

The car maker is building a second plant in India which will start rolling out cars in mid-2009. It does not have a design centre in the country.

The paper said the project would be discussed by Renault's central works' council soon.

Renault shares rose 2.0 percent to 111.28 euros by 0716 GMT.

Reuters