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Nissan to build factory in India: report
TOKYO - Japanese automaker Nissan Motor plans to build a car plant in the Indian port city of Chennai with its French partner Renault SA and local firm Mahindra and Mahindra Ltd, a news report said Saturday.
This plant, which is expected to start operating in 2009, will aim to turn out around 500,000 units a year, the Nikkei said, adding that an official announcement is expected on Monday.
The newspaper did not report the size of the investment.
The venture will likely be set up with the Nissan-Renault alliance putting up half the necessary investment and Mahindra and Mahindra providing the rest, the newspaper said.
Nissan plans to use the joint venture to make a small car now being developed for emerging markets, it said.
In addition to Indian sales of this vehicle, the firm will likely export some of the output to Europe, the Nikkei said.
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