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Made in Chennai Print E-mail
Written by Arjun   
Saturday, 24 February 2007
Nissan Motor Co. will set up a car factory in India with Renault SA and Mahindra & Mahindra

The three manufacturers will jointly own the factory in Chennai. The initial annual output capacity will be 400,000 units. It is expected to be set up by 2009

Mahindra will own 50% of the venture, and Nissan and Renault will each hold 25 percent.

Renault owns 44 percent of Nissan. Nissan holds 15 percent of the French carmaker, Renault.

The factory may build derivatives of Renault's no-frills Logan car.

An announcement on the project will be made on Monday by the three companies and the state of Tamil Nadu.

 

Last Updated ( Sunday, 04 March 2007 )
 
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