Renault-Nissan commit Rs 5,300 crore investments in TN, to roll out 6 new models including EVs
France-based automobile manufacturer Renault and Japan-headquartered Nissan on Monday committed investments of USD 600 million (around Rs 5,300 crore) in the country 15 years after foraying into the Tamil Nadu automobile industry.
The fresh round of investments would witness roll out of six new models between the two companies including — two electric vehicles — representing the two global brands, Nissan Global chief operating officer and Member, Alliance Board Ashwani Gupta said here. Currently, both the auto makers produce four models at the Chennai plant located at Oragadam about 45 kms from here. According to Gupta, the Renault-Nissan manufacturing facility would also become 100 per cent carbon neutral by 2025 with use of renewal energy.
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The investments would see creation of 2,000 new jobs at the Renault Nissan Research and Development and Business Centre Centre located at Mahindra Research City in Singaperumalkoil. Gupta, in the presence of Chief Minister M K Stalin, Renault India Country CEO Venkatram Mamillapallee exchanged memorandum of understanding with Tamil Nadu government promoted nodal agency Guidance Bureau MD and CEO Vishnu Venugopal at an event here.