CHENNAI - The Renault-Nissan alliance is in talks with Indian vehicle maker Ashok Leyland  for a passenger car project, Chief Executive Carlos Ghosn said on Tuesday.

Renault-Nissan already have plans to build an ultra low-cost car in India in partnership with two-wheeler maker Bajaj Auto with the launch expected in 2012.

Ghosn also termed news reports about an equity tie-up between Renault and Germany's Daimler as speculative.

(Reporting by Janaki Krishnan)