Nissan, Renault Invest $600M To Produce Six New Models In India

  • Nissan Motor Co NSANY and Renault SA RNLSY are set to collaborate on six new production vehicles in India for domestic and international customers.
  • An initial investment of around $600 million is planned to support the new projects, which is expected to create 2,000 new jobs at the Renault Nissan Technology & Business Centre in Chennai.
  • The production will include two new fully electric vehicles, uplifting the Renault-Nissan center into an international export hub.
  • Also ReadRenault-Nissan-Mitsubishi Alliance Lists New Initiatives To Ramp-Up Partnership
  • The six new models will comprise of three for each company and will include four new C-segment SUVs.
  • "India was the first Alliance plant and India will be at the centre of this new chapter of the Alliance, with new vehicles, new R&D activities and new export markets taking our joint operations to the next level,” said Guillaume Cartier, Chairperson for Nissan’s Africa, Middle East, India, Europe and Oceania region.
  • Under the new framework agreement, Renault Nissan Automotive India Private Ltd (RNAIPL) will move to ownership of 51% Nissan - 49% Renault.
  • Also ReadRenault Signs MOU With PUNCH Torino For Low-Emission Diesel Engines
  • Price Action: NSANY shares closed lower by 0.29% at $7.39 on Friday.
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