Bajaj Auto's new car project, a joint venture with Nissan and Renault, will roll out from its Waluj plant in Aurangabad, not from the one at Chakan, near Pune, said Rajiv Bajaj, managing director.
Mentioning this at the company's annual general meeting, he said, "The company is investing Rs 500 crore in this project.
It is confidential for Bajaj, Nissan and Renault and so, I will not speak much about it." The total cost of this project is Rs 2,000 crore (Rs 20 billion).
Earlier, Bajaj faced some issues of acquiring land for the car plant in Waluj. It has 250 acres and wanted another 100 acres.
The MD said Bajaj was planning to re-launch scooters in the future, considering the growing market in this segment.
It would also launch a new model of its Pulsar motorcycle next year, with a completely new look, advanced engine and advanced technology.
