Indian motorbike and three-wheel vehicle specialist Bajaj Auto has abandoned plans to develop an ultra-low-cost car with France's Renault and its Japanese partner Nissan, an executive said. After years of talks, the companies announced in 2009 that they hoped to bring the $2,500 car to market in 2012, but there have been suggestions for months that the project was stalling amid differences among the partners.
Bajaj was to have designed and made the car, while Renault and Nissan would have provided the marketing and sales support.