According to an article in Wednesday's La Tribune, a team at Renault-Nissan will on January 1st start developing several low-price car models for emerging markets, though the vehicles could ultimately find their way into the European marketplace.
The cheapest will cost only a third as much as the Dacia Logan, a small family car manufactured by Renault and its Romanian subsidiary Dacia.
The project will be overseen by Gerard Detourbet, head of Renault's entry-level car division, La Tribune reported, citing internal sources.
Renault confirmed to AFP that Detourbet would join a Renault-Nissan small-car team at the start of 2012.
But the car maker did not comment on whether a €2,500 car would be the team's focus.