Renault to miss 2010 deadline of launching cars in India

French auto major Renault has temporarily put on hold its plans to launch cars in India by 2010 in the wake of the global slowdown as the
company has decided to hold back on investments on assembly line at its Chennai plant.

Home > News > Renault to miss 2010 deadline of launching cars in India
Updated On: 2/16/2009

Economic Times

The company, which had last year announced a Rs 4,500- crore investment over a period of seven years to produce four lakh cars annually in an alliance with its Japanese group company Nissan, has now stopped hiring for production activities and is awaiting for market conditions to improve.

"Renault's investment on production plant in Chennai is being temporarily frozen and what we will miss out is Renault cars coming out in the Indian market by 2010," a senior Renault India official said.

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