Renault Nissan starts construction of high-end cars in Chennai

Renault Nissan Automotive India, a 50-50 joint venture between the French and Japanese automakers, started construction of a US$1.1 billion plant in Chennai to produce 400,000 cars a year starting 2010, Forbes magazine reported. The plant will produce Renault’s Logan cars and Nissan’s Micras, which both target the mid- to high-end market. “The new project is a clear indicator of Renault Nissan’s long-term strategy for this important market,” Shohei Kimura, vice-president of the India project, was quoted as saying. (June 11, 2008)