Indian auto company Bajaj unveils urban passenger vehicle RE60

New Delhi, Jan 3 (PTI) India's Bajaj Auto today unveiled a mini four wheeler for intra-city urban transportation targetting three wheeler customers. The company, which had in 2008 showcased a concept small car but decided not to go ahead with the project, will launch the new product named RE60 later this year. "Certainly, this is a product, the core customer for which are those who use a three wheeler," Bajaj Auto Ltd (BAL) Managing Director Rajiv Bajaj told reporters here. He said the RE60, powered by a 200 cc rear mounted petrol engine could also be sold in overseas markets where BAL's three wheelers are exported. Bajaj said the company had spent nearly four years in developing the product that has a top speed of 70 kmph with a mileage of 35kmpl. "This vehicle has been designed for intra-city passenger transport keeping in mind intra-city duty cycles and safety requirements," he added. Commenting on the potential of the vehicle, he said the company expects a big growth opportunity by targeting the three wheeler segment. Bajaj, however, did not share sales targets for the new product but said opportunities are not only in the domestic market but overseas as well. "We make about 520,000 three-wheelers a year of which only 200,000 are sold in India and rest exported. So we see markets like Sri Lanka, which could be the first export market has huge potential for RE60," he said. PTI Caption for pic: Rajiv Bajaj (in black shirt, next to the vehicle), Managing Director of Bajaj Auto Ltd, posing for a photo with the company's first-ever four-wheeled vehicle RE60 during its launch in New Delhi on Tuesday. PTI Photo