Hyundai Motor is planning to launch a small car in India by 2011 with a price tag of $3,500 (about Rs 1.45 lakh), which the company said is not aimed at competing with Tata's much talked about 'Nano' in the near future.
"We do not have immediate plans to fight with Nano. It is planned keeping in mind the Indian market conditions and the interest of the general public," Mr Heung Soo Lheem, Managing Director and CEO, Hyundai Motor India said here.
The low priced car, which is currently under development at its research and development centre in Korea, would also be exported to other countries from here, he said.
The new small car would be manufactured in its Chennai plant, Mr Lheem said. Earlier in January, Tata Motors had launched world's cheapest car 'Nano', priced at $2,500. The country's second largest two-wheeler maker Bajaj Auto also joined hands with Ren ault-Nissan to launch a small car in India by 2011 that would be priced at the same level of 'Nano'.
"Pricing is our first priority as we want to deliver an affordable product to the Indian customers," Mr Lheem said.
"We do not have immediate plans to fight with Nano. It is planned keeping in mind the Indian market conditions and the interest of the general public," Mr Heung Soo Lheem, Managing Director and CEO, Hyundai Motor India said here.
The low priced car, which is currently under development at its research and development centre in Korea, would also be exported to other countries from here, he said.
The new small car would be manufactured in its Chennai plant, Mr Lheem said. Earlier in January, Tata Motors had launched world's cheapest car 'Nano', priced at $2,500. The country's second largest two-wheeler maker Bajaj Auto also joined hands with Ren ault-Nissan to launch a small car in India by 2011 that would be priced at the same level of 'Nano'.
"Pricing is our first priority as we want to deliver an affordable product to the Indian customers," Mr Lheem said.
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