This February, the Renault-Nissan alliance announced investments of around Rs 5,300 crore in the country.
The vehicles produced at the Chennai plant will be exported to the alliance’s regional and global destinations.
The automakers reached a deal in principle on Monday to restructure their two-decade partnership by putting both companies on an equal footing in terms of shareholding and with Nissan investing in Renault's new electric vehicle (EV) unit.
RNTBCI will partner with some of the most innovative automotive startups scouted by T-Hub through the challenge.
Nissan and its union have been locked in a legal arbitration dispute since July after the two sides failed to reach a mutual agreement over several issues including higher wages.
Workers at the Indian unit of Renault-Nissan had asked the Madras High Court for operations to be halted, saying social distancing norms were being flouted and the risk to their lives outweighed the health benefits provided by the company.
The court also asked the company workers to resume duty on Tuesday and the state government to depute a senior officer to the factory to see the Covid-19 safety protocols there.
Factory workers at the Renault Nissan facility in Tamil Nadu are on strike from May 26 since their Covid-related safety demands have not been met, Reuters reported.
Renault-Nissan India and workers at its plant in the southern state of Tamil Nadu have been locked in a legal tussle after workers petitioned a court to halt operations because social distancing norms were being flouted and company-provided health benefits were outweighed by the risk to their lives.
Giving a thumbs down to straightaway filing writ petitions without first exhausting the alternative remedy available under the law, Justice K Ravichandrabaabu concurred with the submissions of Additional Advocate General Narmada Sampath that the disputed question of fact was to be looked into by the appellate authority.
A person familiar with the matter said the new potential partnership is about looking at the possibility of supplying all-electric battery car models for Didi's new service.
Carlos Ghosn, Chairman at Renault and Nissan, said the Mitsubishi can be operated the way Renault-Nissan is being run today. He said synergies can still be driven while keeping Mitsubishi's autonomy and keeping it separate.
India-based auto parts manufacturers have done very well in the past decade but a comparatively low productivity is holding India back, according to a World Bank report.
Renault-Nissan Alliance has inked a global, multi-year agreement with Microsoft Corp to partner on next-generation technologies to advance connected driving experiences worldwide.
The funding for the Rajasthan plant will mainly be through internal accruals and if there is shortfall only then will Rico Auto approach banks, said CMD Arvind Kapur.
The company has formally signed a three year settlement agreement with its employee representative union, Renault Nissan India Thozhilalar Sangam (RNITS), Renault Nissan Automotive India Pvt Ltd (RNAIPL) said in a statement.
According to Carlos Ghosn, Chairman, Renault-Nissan India is slowly warming up to the electric cars and would like to introduce modestly prices electric cars in two years time.
Guillaume Sicard, President of Nissan's Indian operations says Nissan is keen on increasing its domestic market share but points out that the export-centric strategy being executed by the alliance is likely to stay.
The agreement, offering Nissan guarantees against future interference by parent Renault or its own biggest shareholder, the French state, came as a relief to Renault staff while disappointing some investors who had hoped for bigger changes to the 16-year-old carmaking alliance.
"The Renault Kwid has created a huge excitement since its launch and we are thrilled with the response it has received just at the onset of the festive season," Renault India Operations, Country CEO and MD, Sumit Sawhney, said in a statement.
Carlos Ghosn, CEO, Renault-Nissan says that the company‘s capacity is in place and is in line with China‘s growth.
Chairman & CEO of Renault Nissan, Carlos Ghosn was in the country this week to unveil its new entry level hatchback, KWID. Renault which has a 1.5 percent market share in India, thanks mainly to the success of Duster is looking to increase that to 5 percent in the next 12 months.
Nissan and Mitsubishi Motors have an existing joint venture company called NMKV which was established in June 2011 for co-developing a range of Kei cars for both brands.
Nissan is planning to unveil Datsun‘s hatchback model ‘Go‘ by early next year. Reviving the brand after three decades, Carlso Ghosn claims it is bigger and wider than its nearest competitor the Maruti Alto.
French carmaker Renault said the collapse of the joint venture with Better Place would not hold back its plans for battery powered vehicles as it handed over the first electric Zoe to congolmerate Bouygues.