Can you beleive it ?? Renault to make a sub 3000$ car

Can you believe it ?? Renault to make a sub 3000$ car. Hold your breath, its not gonna be sold in Europe ! This is a lauch aiming at mainly India market, may be say Chinese and other asian countries too. It makes sense to me, cause one of india's leading car manufacturer TATA is coming up with a small car for sub 1.5 lacs(something like 3000$). Renault can eat up TATA's pie if they can really roll out a car in this segment.
I am for me :)

French car manufacturer Renault is to create a $3,000 car in India within three years, French newspaper Le Figaro reported on Thursday, without citing sources.

The paper said Renault planed to open a third "technocentre" in India and hire 1,000 engineers to create a super low-cost model that would not be sold in Europe. Renault did not wish to comment immediately on the report.

Le Figaro added the project would be discussed by Renault's central works' council soon