January 9, 2009 / 9:24 AM / 9 years ago

Nissan says car project with India's Bajaj on track

MUMBAI, Jan 9 (Reuters) - A project between Japan’s Nissan Motor (7201.T) and Bajaj Auto (BAJA.BO) to build a low-cost car in India is on track, but the company is assessing the market potential, the Japanese firm’s India head said on Friday.

“We are checking the visibility of the market. Our first priority is to maintain cash flow,” Shouhei Kimura told reporters when asked if the project would be delayed.

    Globally car makers are facing a liquidity crunch as sales fall steeply amid the worst global financial crisis in 80 years.

    Nissan, which is separately setting up a car plant in south India jointly with Renault (RENA.PA), plans to begin initial production in the first half of 2010, Kimura said. (Reporting by C.J.Kuncheria; Editing by Ranjit Gangadharan)

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