Renault-Nissan JV is looking to achieve its target investment in the plant and production capacity set by the Tamil Nadu government during the MoU. Belief is that it will be achieved before the seven year deadline that began 2008, confirmed a top official at Nisaan. The Japanese auto major has invested INR 2,300 crore so far in the Indian plant at Chennai as against the promised INR 4,500 in seven year from 2008. The plant currently produces the sub-compact Nissan Micra for the domestic and global markets. The Micra is the first vehicle derived from the new V-platform is exported to over 100 countries in Europe, the Middle East and Africa.
At the launch of Nissan Micra diesel version in Hyderabad, Kiminobu Tokuyama, Managing Director and CEO, Nissan Motor India said,”Of course we don’t need to wait for seven years. We have the production capacity of two lakh as of now and we have invested Rs 2300 crore so far. That is the current status. And we are studying the situation to increase the current capacity to four lakh.” Come 2011, the plant will begin production of the Renault Koleos and Fluence for Indian markets. Tokuyama revealed Nissan’s plans to export 1.1 lakh Nissan vehicles to Europe, Africa and Middle East countries from India.
“We have started exports to Europe in October this year. So far we exported 15000 units. We aim to export 1.1 lakh vehicles in the first year (Oct 2011) to Europe, Middle East and Africa and we will increase it to 2.1 lakh mainly Micro and other future models,” Tokuyama said.
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