Bajaj Auto, which is planning to launch its low-cost car by 2011, said any financial or other constraints faced by its partners, Renault-Nissan, will not affect the implementation of the project, but did not rule out some adjustments in the schedule.
'Bajaj is proceeding as before to implement this project and any financial or other constraints that Renault-Nissan may have will have no bearing on the ability of Bajaj to implement this project,' Bajaj Auto Ltd Managing Director Rajiv Bajaj said in a statement.
He, however, did not elaborate on what kind of financial constraints Renault-Nissan is facing while carrying out the project.
Without giving any time-frame, Bajaj also said the project schedule might see some adjustments due to review of some 'specifications.'
'The project remains largely on schedule, though in the course of development some specifications have been reviewed, leading to adjustments in the overall schedule,' he added.
However, when contacted, a Renault India spokesperson denied that the company was facing any constraints in supporting the low-cost car project.
"There is no question of constraints at all, not even financial," the official added.
Last year, Bajaj had announced a joint venture with Renault-Nissan to produce a $2,500 car by 2011 to compete with Nano, the world's cheapest car from Tata Motors. The JV for manufacturing the small car, code-named ULC, is owned 50 per cent by BAL and 25 per cent each by French car maker Renault and Japan's Nissan.