Renault/Nissan/Bajaj announce automobile deal

After months of speculation and discussion, Renault and Nissan have agreed to an automotive joint venture with Bajaj Auto to compete with Tata Motors’ budget Nano model. reports: “Sales are scheduled to start in early 2011 in India, Nissan said. The joint venture will be 50 percent owned by Bajaj, 25 percent by Renault SA and 25 percent by Nissan Motor Co.” (Thanks for the link, Dave!)