Renault, Nissan to invest Rs 5,300 crore in India
The multinational automobile manufacturers Renault and Nissan are planning to invest approximately USD 600 million (Rs 5,300 crore) in the Indian market. 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. 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.