Renault and Nissan revitalize their Indian operation: fresh investments and upcoming automobile models
Renault Group and Nissan Announce New Long-Term Vision for India
Renault Group and Nissan have unveiled a new long-term vision for their joint operations in India, which includes the production of six new models and a significant investment in renewable energy and job creation.
Under the new framework agreement, Renault Nissan Automotive India Private Ltd (RNAIPL) will have a 51% Nissan - 49% Renault shareholding, making it a fully owned subsidiary of Renault Group. This realignment of the companies' involvement in India will see the Renault Group own the 51% majority stake.
The RNAIPL plant in Chennai will increase its production utilization rate to 80%, and will become an international export center. Two new electric vehicles in the A-segment will be the first electric vehicles from Renault and Nissan in India. Among the new offerings, four new C-segment SUVs and two fully electric vehicles will be produced.
To support these new projects, an initial investment of around $600 million USD / ₹53 billion INR is planned. The RNAIPL plant will also become carbon-neutral through a significant increase in renewable energy production. The existing solar plant at the RNAIPL plant will be more than six times larger, increasing from 2.2 MW to 14 MW.
The collaboration between Renault and Nissan will also see an increase in R&D and associated activities at the Renault Nissan Technology & Business Centre India. This is expected to create up to 2,000 jobs. Additionally, the new projects are expected to create an additional 2,000 jobs at the Renault Nissan Technology & Business Centre in Chennai.
Thousands of jobs will be secured at the RNAIPL plant in Chennai for years to come, as the plant will continue to draw more than 50% of its electricity from renewable sources and aims to increase this to 100%. The six new models will be three each for both companies, designed and produced in Chennai.
The new models produced by Renault Group and Nissan will significantly boost exports from India. The Renault-Nissan hub in Chennai will become an international export center, further cementing India's position as a key player in the global automotive industry.
The RNAIPL plant in Chennai will also set a roadmap for carbon neutrality by 2045, making it the first Alliance plant to do so. This commitment to sustainability is in line with both Renault and Nissan's global goals to reduce their carbon footprint and promote the use of electric vehicles.
Overall, the new long-term vision for India announced by Renault Group and Nissan represents a significant investment in the country's automotive industry and a commitment to sustainability and job creation. With the production of six new models and a focus on renewable energy, the companies are positioning themselves for success in the Indian market and beyond.
Read also:
- Mural at blast site in CDMX commemorates Alicia Matías, sacrificing life for granddaughter's safety
- Comcast Introduces Sports-Oriented Video Bundle in Preparation for the World Cup Tournament
- Is Maruti's reign over the SUV market being challenged by Mahindra's aggressive move to snatch the top spot?
- Social Security Administration Abandons Plan for Electronic Payments: Important Information for Recipients of Benefits
