Published on Wed, Jan 06, 2010 at 09:10 | Source : Reuters
Updated at Wed, Jan 06, 2010 at 15:00
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Renault to resume investment in India
France's Renault is resuming investment in its passenger car line-up in India, Katsumi Nakamura, Executive Vice-President and leader of its Africa-Asia management committee said on Tuesday.
France's Renault is resuming investment in its passenger car line-up in India, Katsumi Nakamura, Executive Vice-President and leader of its Africa-Asia management committee said on Tuesday. In 2008, the company had put on hold its investment in the Chennai plant in south India, following the global economic slowdown.
"It is tough to survive in this market. So we will take it step by step," Nakamura told Reuters in an interview. "We are looking at gaining a certain market share and volume in the next three years."
He said the company is looking to sell 50,000 to 60,000 cars a year in India, within three years.
