News Desk
TOKYO: Automakers Nissan and Renault said on Monday they would invest $600 million to make six new models in India.
The companies would work on the projects from their base in Chennai, turning it into an export hub, the pair send in a statement on Monday.
Additional research and development activities would create up to 2,000 new jobs, while the investment would also be spent on the decarbonization of a manufacturing plant in Chennai by transitioning to 100% renewable energy by 2045, the automakers said.
New models to consist of four SUVs, two EVs
Each automaker will be making three of the six models which will be built on joint platforms and will also be exported. The new models will consist of four sports utility vehicles (SUVs) and two electric vehicles (EVs) – the first to be rolled out by the automakers in India.
It is the first joint project of the Japanese and French automakers since they announced a revamp of their car-making alliance last week.