Named RE60, the car was on display in Delhi at a presentation where its characteristics including low carbon dioxide emissions and high fuel efficiency were featured. However, the company did not release a price tag for the car.
Speaking during the presentation, the group’s managing director Rajiv Bajaj said that his company believes that people of the planet deserve a much better and faster car.
Bajaj is best known for its three-wheelers and motorbikes.
The introduction of the RE60 will add competition to the cheap car segment where the Indian-made Tano Nano reigned supreme.
With an engine capacity of 200 cc, the RE60 can do 36 kilometers per litre and emit just 60 grams of CO2 per kilometer, half what its current competitors emit. The key selling point however will be the price. Bajaj has been tightlipped on the price, but the RE60 is rumoured to have a price tag of USD 2,200 which would make it slightly cheaper than the Tata Nano. The Nano is currently the world’s cheapest new car and retails for around USD 2,500.
Bajaj said it was targeting three-wheeled motor-rickshaw drivers but everyone was welcome to own it later this year once it goes on sale. The four-seater RE60 will have a top cruising speed of 70kph and weigh 400 kgs.
Millions of Indians are gaining middle class status every year and the demand for cheaply made cars has gone up with the country fast transforming on to a center for small car engineering, design and production.