Renault and Nissan to invest $600 million to build new car models in India
Chennai, India, 14 February 2023, 04:14 — REGNUM Six new car models are going to be jointly developed by Renault and Nissan. The creation of cars will begin in the branch of the automaker in the Indian city of Chennai, the companies said in a joint statement.
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Investment in the development of new cars will amount to $600 million. The cars will be oriented both to Indians and buyers from other countries. In total, three types of cars of each brand will be produced. Including the creation of two models with electric motors and four cars of the SUV class.
To implement a large-scale project, it will be necessary to increase the staff of the Indian plant by about 2 thousand employees to 10 thousand. The decision was made after the conclusion of an agreement between the management of Renault and Nissan on the revision of the terms of bilateral cooperation.
As reported IA REGNUM, Japanese auto giant Toyota Motor remains the world’s largest car seller for the third year in a row. In 2022, the company sold about 10.48 million vehicles worldwide, including subcompacts.