Renault-Nissan alliance to invest $2.5 bn in India, makes country home for Ultra ... - Economic Times

Renault-Nissan, the Franco-Japanese alliance, intends to double its investment in India to $5 billion over the next few years as it eyes an ambitious 15% market share in India between Renault-Nissan and Datsun brands put together. Having already invested $2.5 billion, Carlos Ghosn, the global CEO of Renault-Nissan alliance said, "We are very bullish on India. We are investing in products, we will have expand to our capacity, so we may see our investments double in India over the next few years." The heart of that investment is an entry into the Ultra Low Cost Cars with the CMFA ( small car) platform led by Gerard Detourbet to meet the specific demands of new car buyers in the world's fastest growing economies. All new vehicles from Renault-Nissan's 'Common Module Family' will reflect 'cost-breakthrough' pricing in multiple body and powertrain configurations, says the company. Production will begin in Chennai in 2015 for the Indian market. The first car will hit the market in the next two years by 2015, and it will be under the Renault brand. The announcement marks the first all new program developed from the ground up by Renault SAS and Nissan Motor Co. Ltd, working side by side from inception. The program covers the most affordable category of cars in the Common Module Family, Renault-Nissan's unique, modular system of vehicle architecture. "We are breaking new ground with CMF-A to meet and exceed the high standards of consumers in the world's fastest growing economies - particularly people buying a new car for the first time," said Ghosn. He added, these influential consumers don't want a decontented car originally intended for consumers in mature markets. They want and deserve a car that is modern, robust and stylish at a price point that represents a cost breakthrough' for such a generous vehicle. India will be a home to the CMFA platform and it will be developed and engineered by Renault Nissan Technology Business Centre in India. Speaking highly of India's frugal engineering, Ghosn said the Indian engineers are second to none when it comes to developing products within limited resources. Ghosn promises the products to be high value and modern products. The charismatic CEO of Renault Nissan says India has a potential to be amongst the top 5 markets for Renault and for Nissan it could be in the top 10 markets globally. Nissan Motor India is aiming to sell about 4 lakh cars by 2016 in India between Nissan and Datsun branded cars. Renault is aiming for a market share of 5%. Nissan has lined up 10 new products including Datsun cars by 2016 and Renault may have a portfolio of 5-7 cars in the mid-term. The alliance will look at expanding the capacity beyond 4,00,000 cars to 6,00,000. Copyright © 2013 Times Internet Limited. All rights reserved. via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGhjjjLJK1pou1-Osr-JtXD7CbQGw&url=http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/renault-nissan-alliance-to-invest-2-5-bn-in-india-makes-country-home-for-ultra-low-cost-car-platform/articleshow/21102134.cms

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