Renault has put on hold its plans to introduce cars in the Indian market from the upcoming Chennai plant on account of global slowdown, which has affected the firm’s worldwide operations. Renault had already stopped hiring for production activities in its upcoming Chennai facility, is waiting for market conditions to improve.
“We have indefinitely put on hold our product plans, it is because of slowdown that has affected us globally,” a senior Renault India official said.
Renault India had last year announced plans to invest Rs 4,500 crore over a period of seven years to produce four lakh cars annually from the Chennai plant in alliance with Japanese firm Nissan.
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April 22nd, 2009 at 12:27 pm
It makes sense to do this. I was under the impression they would use the additional capacity of their existing plant to build the Sandero ? Is the Sandero on hold as well or just the Chennai plant ? Very curious to know since Nissan is going ahead with the Micra – can Renault afford to lose the chance ? Nissans Chennai plant plans seem to be on track – and wernt these the same plant ?
April 22nd, 2009 at 1:38 pm
Sushil, the cars are on hold. The plant is being prepared and Renault can anytime defreeze their plans. And the plants in question are the same plants.