Rumor: Nissan, Renault, Mahindra to build cars in India together
Automobiles, Market Rumors February 23rd, 2007
Rumor: Nissan, Renault, Mahindra to build cars in India together
The latest rumor in the Indian automotive market is that the three companies Renault, Nissan and Mahindra & Mahindra are planning to build a plant together to make cars in India.
Sources say that the companies would be coming out with their plan on Monday. This plant is expected to be based in the South Indian city of Chennai.
This plant is likely to be 50 percent owned by Mahindra, while Nissan and Renault will each have a 25 percent stake.
Market analyst K.K. Mittal spoke about the potential of the Indian market: “India is the place to be in the auto industry now. The demographics are in favor of strong, sustained growth here and that is why auto companies are investing billions.”
Nissan spokesman Simon Sproule had this to say on this rumor: “We’re close to being ready to make an announcement. At this time we have nothing to add.”
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About
The News is not a Ruomer..
Its a Fact………..The Plant is coming up near chennai at a place called ORAGADAM,,,,,,,,,the centre point between Ford and Hyundai plants,These companies have signed an MOU with the TN Govt & SIPCOTfor a 1000 Acres .
The Plant is expected to start bt the 2nd half of 2008
this will make Chennai the TRUE DETROIT of ASIA.
With Tamilnadu having the Max number of Automakers and WORLD CLASS auto compenent manufacturers .the logical step was to locate the plant at this part of the world.
In 3 yeras time Tamilnadu will be the HUB for all auto Manufacturers of the world.
Thanks to HYUNDAI.who boldly Plunged into Tamilnadu and wetre always.laughing all their time to the Bank.
Its the first AUTOMAKER in India..to start off on a Profitable note.and still doing so.WISH THEM ALL THE BEST .FOR THE COMING YEARS
We all owe To HYUNDAI FOR CREATING A LOT OF JOBS TO THE LOCALS
Ganeshraam