Renault-Nissan to invest Rs 5,300 cr, plan 6 new EVs
Pune: Two giant automakers Japanese Nissan Motor Co and French Renault SA, which revamped their global alliance last week, on Monday said they would invest â‚¹5,300 crore in India to launch six models, including two electric vehicles (EV) in the fiercely competitive Indian car market dominated by Maruti and Hyundai.
In a new long-term plan for India, both companies will increase production, scale up research and development and shift to carbon-neutral manufacturing.
The Renault Nissan alliance will use its base in Chennai to make the six vehicles for domestic and international customers.
These are four new C-segment SUVs and two A-segment electric cars for the growing Indian market which took over Japan in December to be the world’s third biggest auto market.
The new investment in India will support the all-iance’s upcoming projects, creating up to 2,000 new jobs at the Renault Nissan Technology & Business Centre in Chennai.
The all new six models from Renault-Nissan stable will also be sold in the international markets. These include four new C-segment SUVs and two A-segment electric cars.
The two companies said each would make three new models on joint platforms while retaining the individual, distinctive styling of the respective brands. “They will include four new C-segment SUVs. Two new A-segment electric vehicles will be the first EVs for both Renault and Nissan in India,” they said.
The new cars will be manufactured at Renault-Nissan’s Chennai plant, whose utilisation is expec-ted to reach 80 per cent with the rise in exports.