India to launch the new HYHUNDAI small car by 2011

NEW DELHI, May 30 (Reuters) - South Korea's top automaker, Hyundai Motor Co (005380.KS: Quote, Profile, Research), hopes to launch its small car in India by 2011 or 2012, the managing director of its India unit said on Friday.

The company has said it is developing a car priced at around $3,500 to attract customers in China and India, where competition is set to hot up when Tata Motors (TAMO.BO: Quote, Profile, Research) starts selling its $2,500 Nano, possibly the world's cheapest, later this year.

Motorcycle maker Bajaj Auto (BAJA.BO: Quote, Profile, Research ) owns 50 percent in a venture with Renault and partner Nissan Motor (7201.T: Quote, Profile, Research) to make a similarly priced car from 2011.

"We don't have any immediate plan to fight against the Nano," Hyundai's H.S. Lheem told reporters on the sidelines of a traffic event.

Reuters