The CEO of Renault-Nissan, Carlos Ghosn is claiming that his company will produce a car that costs less than the $2,500, The Renault-Nissan Tata Nano. This would make it the cheapest car in the world to date, the car will be built by Bajaj Auto, an Indian scooter and rickshaw company.

Bajaj and Renault-Nissan were hoping to get these ultralow priced cars on the road by 2011, however there has been delays since neither Bajaj or Renault-Nissan has ever made such a vehicle.

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