M& M, Renault deny break- up rumours.
Bajaj Auto Ltd, too, has stated that it was not interested in associating itself with Renault, as published in a business daily, if the current joint venture ( JV) between Renault and M& M were to end.
At the Kawasaki Ninja launch conference, Rajiv Bajaj, managing director, Bajaj Auto Ltd, said the company had no ambitions of getting into the manufacturing of sedans. According to the media report, Bajaj Auto was likely to partner with Renault if the M& M association were to be discontinued.
However, Bajaj added, " Our plans for the ultra low- cost car are right on track and this will be launched in 2011." The company will be producing this jointly with Renault.
The official spokesperson at Renault said, " We strongly deny the rumour/ speculation that there is any move to ask anyone, Bajaj Auto or otherwise, to take over the M& M stake in Mahindra Renault. Renault's commitment to the India market remains undiluted and we are continuing to work together with M& M to determine the appropriate product portfolio and the way forward for Mahindra Renault." The company spokesperson at M& M, too, denied the speculation.
" We are currently in discussion with Renault on various product offerings and the way forward for the Mahindra Renault JV," she added, refusing to divulge details about the product offerings.
The Mahindra Renault JV manufactures the Logan at M& M's factory at Nasik in Maharashtra. The JV had targeted an initial capacity of 50,000 units per annum.
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|Publication:||Mail Today (New Delhi, India)|
|Date:||Oct 9, 2009|
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