Bajaj, Renault Nissan alliance statement

Pune, October 29, 2007: Following a recent meeting in Paris between Rajiv Bajaj, Managing Director, Bajaj Auto and Carlos Ghosn, President and CEO, Renault SA and President and CEO, Nissan Motor Company, a delegation from Renault and Nissan today visited the Bajaj Auto Chakan plant in Pune.

The delegation from Renault and Nissan comprised of Carlos Ghosn, Carlos Tavares, Executive Vice-President, Business Strategy and Product Planning, Nissan and Sylvain Bilaine, Managing Director, Renault India.

Commenting on the visit:

Carlos Ghosn: "After our discussions in Paris, I am here in Pune to further review the proposed Alliance for the ultra low-cost car project with Bajaj. Visiting the plant and discussing the project with engineers is the only effective way to understand all the challenges we face. I am confident that this project will continue to advance in a favorable direction for both Bajaj and Renault Nissan Alliance."

Rajiv Bajaj: "To Renault and Nissan's world of formidable automotive experience, Bajaj aspires to add value through product innovation and competitive operations. Such an alliance would be promisingly placed to develop a unique platform of "lite" vehicles for an increasingly vulnerable world."