New Delhi, May 13 (IANS) Two- and three-wheeler major Bajaj Auto will launch its first light commercial vehicle in the Indian market next year.

"We will launch such an vehicle by next year. This would be a Bajaj vehicle, which would be developed and marketed by the company," the company's chairman Rahul Bajaj told reporters on the sidelines of an event here late Thursday.

"It's evolutionary for a two-wheeler manufacturer to go in for entry level vehicle. We have expertise and experience to do so," he said.

The company did not divulge any marketing or price strategy for the vehicle.

Bajaj further said that the company's other pet project -- developing an entry level passenger car with French automobile major Renault -- was on track.

"It would be an entry level vehicle and would be on the same platform as the commercial vehicle," he said, adding that the car will be branded and marketed by Renault.

Bajaj said that the car will not enter into any price war with existing low-cost cars.

"There won't be any pricing competition, as products do exist in this segment. But the quality and uniqueness of the car would be enough. Its our expertise, Renault's technology," he added.

The car too is expected to be launched by next year.