Asia Bizz: Indian auto giant Bajaj, who was till now ruling the two wheeler segment has claimed its position in the four- wheeler segment on January 3, 2012. Bajaj unveiled its first four wheeler, known as the RE60, in the Indian market for the hatchback segment.

It stopped entering the highly competitive personal passenger car which is currently dominated by the companies like Tata Motors, Maruti Suzuki and Hyundai Motors. Ravi Bajaj, in the press meet, said that the new Bajaj RE60 will create a new public passenger vehicle or the city taxi segment.

Bajaj now expects that the passengers will now upgrade from the three wheelers, which is currently the most popular mode of transport used by the commuters in India. The managing director, while talking about its three wheelers, said that more than 5 million three wheelers made by them are running on the Indian roads.

In India, Bajaj is the biggest seller of the three wheelers. The new Bajaj vehicle has a petrol engine and will be ready for the commercial production in the next few months. The company is yet to set a price for the RE60, but assured that it will be a cheaper alternative for the customers.