The new car, which would come in four variants and two options, is priced between Rs 2.57 lakh and Rs 3.53 lakh.
The new car, which would come in four variants and two options, is priced between Rs 2.57 lakh and Rs 3.53 lakh (ex-showroom Delhi). It will also compete with Hyundai's Eon besides Tata Motor's Nano.
"We are confident that Kwid will be a big contributor for the company in achieving the 5 per cent market share in India by 2017," Sumit Sawhney, country CEO and managing director, Renault India Operations said.
"The level of localisation we have achieved in Kwid is the highest ever by an auto manufacturer in India when a new model is launched," he said, adding that it would help in keeping the maintenance cost of Kwid lower by 19 per cent from the market leader.
While Maruti Alto800 is priced between Rs 2.52 lakh and Rs 3.72 lakh, Hyundai Eon is priced between Rs 3.10 lakh and Rs 4.27 lakh. Tata Motor's Nano is priced between Rs 1.99 lakh and Rs 2.53 lakh (all prices ex-showroom Delhi).
Sawhney, however, declined to share how many units of Kwid that the company expects to sell.
Besides, the company is also looking to expand its service network to 205 dealerships by the end of this year and to further enhance it to 280 outlets by the end of next year, Sawhney said.
Kwid is powered by all-new 800 cc engine delivering mileage of 25.17 kmpl, making it the country's most fuel efficient petrol car.
Kwid comes with various features including class leading ground clearance of 180 mm and a boot capacity of 300 litres with a seven-inch touchscreen Media Nav system and a digital instrument cluster.
Previously, Renault's presence in the hatchback segment was limited to Pulse with a starting price of Rs 5.03 lakh (ex-showroom Delhi).
The company sells six models in India, including the popular SUV Duster and recently-launched MPV Lodgy.