(News Bulletin 247) – Renault Group and Nissan announce a renewed commitment to India, increasing production and R&D activities, electrifying their product lines, and moving to carbon-neutral industrial manufacturing.
Under a new framework agreement, Renault Nissan Automotive India Private Ltd (RNAIPL) will change to a 51% Nissan – 49% Renault shareholding, and the Renault Nissan Technology Business Center (RNTBCI) will be 51% owned by the Frenchman. and 49% by the Japanese.
From their base in Chennai, the two manufacturers will collaborate on the production of six new vehicles for local and international customers, two of which are fully electric, making the Renault-Nissan center an international export hub.
An initial investment of around $600 million is planned to support the new projects, which will see the creation of 2,000 jobs at the Renault Nissan Technology & Business Center in Chennai.
In addition, the Alliance has set a target of carbon neutrality for its RNAIPL plant in Chennai by 2045, thanks to a transition to 100% renewable energies and a reduction of its energy consumption by 50%.
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