Renault, Nissan commit Rs 5,300-crore investments in Tamil Nadu

France-based automobile manufacturer Renault and Japan-headquartered Nissan on Monday committed investments of USD 600 million (around Rs 5,300 crore) in the country 15 years after foraying into the Tamil Nadu automobile industry.

The fresh round of investments would witness roll out of six new models between the two companies, including two electric vehicles, representing the two global brands, Nissan Global chief operating officer and Alliance Board Member Ashwani Gupta said in Chennai.

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Four models currently

Currently, both the auto makers produce four models at the plant at Oragadam, about 45 kms from Chennai.

According to Gupta, the Renault-Nissan manufacturing facility would also become 100 per cent carbon neutral by 2025 with use of renewal energy.

New jobs

The investments would see creation of 2,000 new jobs at the Renault Nissan Research and Development and Business Centre at Mahindra Research City in Singaperumalkoil.

Also read: Nissan’s manufacturing plant in Chennai continues to function: TN Minister

Gupta, in the presence of Tamil Nadu Chief Minister M K Stalin and Renault India Country CEO Venkatram Mamillapallee, exchanged memorandum of understanding with Tamil Nadu government-promoted nodal agency Guidance Bureau MD and CEO Vishnu Venugopal at a Chennai event.

(With agency inputs)