Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


TOKYO (Reuters) -Nissan Motor Co and Renault SA said on Monday they would invest $600 million to make six new models in India, one of three markets in which the two automakers plan to coordinate closely in a revamped alliance announced last week.

The move will help address falling market shares for the Japanese and French companies in a market with rising global importance.

“This investment is very significant not only on products but on technologies like EVs to really capture the growing Indian market, which is the third-largest market in the world, and also to use India as a base for export,” Nissan chief operating officer Ashwani Gupta told reporters.

The two companies said in a statement that each would make three new models in India, all built on joint platforms – components and engineering that can be shared between designs.

Two models would be electric vehicles (EVs), the companies’ first in India; the others would be sports utility vehicles.

All will be made at the underemployed car plant that the companies jointly own at Chennai, in southern India. They have a research and development centre there, too.

Under a new structure for their two-decade-old global alliance announced on Feb. 6, Nissan and Renault will also cooperate closely in Latin America and Europe.

The two companies together had around 3% of the Indian market in 2022. Unlike Nissan, Renault does not have a significant presence China, the United States and Japan, raising the stakes for its success in India.

Industry-wide sales in India surged 23% last year to 4.4 million vehicles, overtaking the Japanese market, according to S&P Global Mobility.

The Chennai plant can produce about 500,000 vehicles a year, but last year Renault sold only 87,000 in India and Nissan 35,000.

(Reporting by Satoshi Sugiyama; Editing by Chang-Ran Kim, Edwina Gibbs and Bradley Perrett)


Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts