CHENNAI, INDIA – Nissan Motor Co. and Renault SA will jointly produce new inexpensive cars for the Indian market from 2015 at their factory in Chennai, Renault-Nissan Chairman Carlos Ghosn said Tuesday.
At a news conference in Chennai in the southern Indian state of Tamil Nadu, Ghosn said the Renault-Nissan alliance aims to expand its market share in the country to 15 percent within a few years. Their combined market share in India was estimated at 2.6 percent in fiscal 2012, according to the Society of Indian Automobile Manufacturers.
The two automakers are seeking to cut production costs by sharing the chassis of the new cars. The announcement came a day after Nissan unveiled its first model under the revived Datsun brand for emerging markets.