Nissan and Renault launch a $53 billion investment plan to introduce new, locally designed models in India, aiming to boost sales and export operations.
Japanese auto major Nissan and its alliance partner Renault have recently announced a strategic move, investing a substantial $53 billion in India. This investment is part of a larger plan to introduce nearly half a dozen SUVs in the country, with the goal of tripling volumes over the next two years. The company is set to introduce new models that are designed, developed, and manufactured in India, with three new models slated for the Indian market by 2026. These models will not only cater to the domestic market but also be exported globally.
The company’s commitment to the Indian market is unwavering, as evidenced by its efforts to reboot operations and implement several initiatives to expand and strengthen its footprint over the next two years. Nissan’s sales of about 30,000 units in the Indian market in the last financial year are a testament to its growing presence. With the company set to commence deliveries of the SUV X-Trail shortly, annual sales in the ongoing fiscal year are expected to be higher at around 35,000 units, further solidifying its commitment to the Indian market.
As part of the deal, the two companies have pledged to pool more resources into key projects involving markets, vehicles, and technologies in South America, India, and Europe. Nissan has also said it will invest in Renault’s new battery-electric vehicle unit.
