Renault-Nissan to launch 6 new models in India with an investment of ₹5300 crore, 2000 jobs will be created
Renault-Nissan: French automobile manufacturer Renault and Japan’s Nissan will invest Rs 5,300 crore ($600 million) in research and development (R&D) to make more models, including electric vehicles, in India. will invest. The Renault-Nissan alliance has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for fresh investments.
2 thousand jobs will be created
Announcing the new investment, Ashwani Gupta, director and chief operating officer of Nissan Motor Company, said the alliance would invest $600 million (Rs 5,300 crore) in new projects. He said the new investment would create 2,000 jobs at Renault Nissan R&D in Mahindra World City.
Will introduce 6 new models
Gupta also said that Renault-Nissan Automotive India Pvt Ltd, the alliance’s manufacturing joint venture in India, has a plant nearby, which will introduce 6 new models including electric vehicles (EVs).
Gupta also said that additional investment will be made in the Magnite with Left Hand Drive model for the export markets. The new investment will increase the utilization of the car plant to 80%. According to Gupta, by 2025 the entire plant will be powered by renewable energy. He also said that both the partners are restructuring their shareholding here.
