Regions

Renault-Nissan to put in US 2.5 billion in India

July 16
10:46 AM 2013

Car makers Renault and Nissan Motor Co. will be jointly investing the amount of US $2.5 billion in India within the next four years. This information came as the companies get ready for the unveiling of its new car models built specifically for the India as well as other high-end markets.

The companies' chief executive, Carlos Ghosn, said that the Renault-Nissan alliance seeks to launch two new vehicles originally created for the Indian market. This move was made to considerably increase its sales in the India.  The said cars would also be made available in other emerging markets that include Brazil, Russia, China and South America.                                                                      

Mr. Ghosn added the alliance's combined market share in India is expected to hit 5% this year and that it could rise up to 15% within the next few years. He also said that the Renault-Nissan seek to sell over 600,000 vehicles by 2016.

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