Renault To Freeze Its Production Plans

Renault is planning to pull out of the joint factory project in Chennai. The company is facing tremendous pressure owing to the global slowdown and intends to cut down its production around the globe. After shutting down its plants across the globe, it now intends to cut down its production in India as well.

"Renault may pull out of a joint factory project in Chennai, India, with Japanese affiliate Nissan. It's possible that we abandon the project completely. It depends on market conditions," chief financial officer Thierry Moulonguet said. However, Renault India spokes person denied any such intentions of the company.

Renault SA had entered into a three-way joint venture with Nissan Motor and Mahindra and Mahindra to set up Rs 4500 crore manufacturing plant in Chennai. M&M pulled out of the joint venture last year and the current joint venture is running as a 50-50 JV between Renault and Nissan.

Renault SA is also planning to put on hold any further launches of its new cars in India in 2010. "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.

• Three Renault models to hit Indian roads in 2012           January 18, 2012
• Auto Expo 2012: Renault revealed the price of its new model, Pulse           January 14, 2012
• Renault gears-up to boost India operations, plans to launch 3 car models this year           January 13, 2012
• Renault launches the PULSE and amazes the Audiences with its DUSTER           January 10, 2012
• Auto Expo 2012: Images of Pulse and Duster grab attention of onlookers at the Renault Pavilion at 2012 Auto Expo           January 07, 2012
• Auto Expo 2012: Renault plans aggressive expansion of portfolio in India           January 07, 2012
• Auto Expo 2012: Images of Renault Duster, Renault’s compact SUV.           January 06, 2012
• Auto Expo 2012: Renault reveals its plans for the upcoming Delhi International Auto Expo 2012           December 29, 2011
• Renault Pulse to raise bars for Nissan Renault alliance           December 24, 2011
• Renault India to focus on diesel-run cars to take on competition           December 19, 2011
• Renault Koleos to cost more in India           December 16, 2011
• Renault Koleos recalled in China sue to faulty steering           December 09, 2011
• Renault plans small car in India; may set up plant in Gujarat           December 07, 2011
• Renault to invest Rs 10,335 crore in small car project in India, new plant likely to come in Gujarat           December 07, 2011
• Renault Pulse set to mark its debut at 2012 Delhi Auto Expo           December 06, 2011