Nissan and Renault will spend $320 million to develop the joint enterprise in India
Franco-Japanese automaker Renault-Nissan will invest $320 million to expand a complex in India, according to Reuters report with reference to Japanese business media.
The new plant will produce Nissan's Datsun brand and economy Renault models and extend the production in Chennai city that will be able to produce from 400.000 to 600.000 units annually by the end of 2014.
Nissan has decided to revive its discontinued Datsun brand to meet demand for affordable cars in emerging markets, planning to produce two new models will initially be priced around 500,000 yen ($5.36 thousand). It is expecting that the new plant will also produce a new model.
Conducting this policy, Nissan wants to increase its share in the Indian market, which is currently about 1%. Market leaders are Maruti Suzuki, Tata Motors and the South Korean Hyundai Motor Co.
Alliance Renault-Nissan established in March 1999, was the first industrial and commercial partnership between the French and Japanese companies. Two automakers have entered into a strategic partnership, exchanging stocks, putting the project into a leading position. Alliance sells its products in the U.S.A, Europe, Japan, China and Russia.
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