The alliance of France-based Renault and Japan’s Nissan on Monday committed themselves to invest $600 million (around Rs 5,300 crore) at its Chennai plant.
They plan to launch six new models, including four sport utility vehicles (SUVs) and two electric vehicles (EVs). Of the six models, three will be Nissan cars and three, Renault. The sum will also be invested R&D activities, and transitioning to carbon-neutral manufacturing in Chennai.
While the SUVs will be positioned in the C-segment, the EVs will enter the A-segment. The two EVs, which will be completely new, will be the maiden electric models for Renault and Nissan in India.
To be built on the common Alliance platforms and at the same time retain the individual brand identities, the six models will cater to domestic as well as international markets. All the vehicles will be manufactured at the Renault Nissan Automotive India factory in Chennai.
The alliance expects the fresh investments to create 2,000 new jobs in the country through additional R&D activities and it also has plans to locally produce electric vehicles in India.
During a virtual press meet, Nissan Motor Corporation chief operating officer Ashwani Gupta said the first of the six models will be introduced in India in 2025.
Nissan sells merely two models — Magnite and Kicks — in India at present. However, the Kicks reportedly will not be upgraded to comply with the stringent real driving emission (RDE) norms, which starts from April 1, and will be discontinued. On the other hand, Renault offers only three models — Kwid, Triber and Kiger.
