Renault and Nissan have revealed their plans to invest approximately USD 600 million (Rs 5,300 crore) in India. This marks the first joint project for Renault and Nissan since the two auto manufacturers recently announced a revamp of their alliance.
The plans also include a long-term vision for India, including supporting increased production and research and development efforts, introducing electric vehicles, and transitioning to carbon-neutral manufacturing.
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Apart from this, Renault and Nissan have also announced their plans to produce six new vehicles for both domestic and international customers in India. The investment is expected to create up to 2,000 jobs at the Renault Nissan Technology & Business Center in Chennai, and the facility will transition to becoming carbon-neutral by 2045.
The six new models will consist of three offerings from each company, all designed and built on common platforms in Chennai. The lineup will feature four SUVs and two electric vehicles. According to the official statements from the companies, these new models will not only target Indian consumers but will also result in a significant increase in exports from India.
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As part of their renewed commitment to the Indian market, Renault and Nissan have also decided to reorganize their shareholdings in their joint operations. Under the newly established framework agreement, Renault Nissan Automotive India Private Ltd. (RNAIPL) will gradually decrease its stake in Nissan from 43% to 15% to balance their cross-ownership, while Nissan will invest in Renault's electric vehicle unit.
