M&M Renault to Continue, Restructure the JV

Wednesday 10 February 2010, 00:00 AM by Payal Pathak

Contradicting earlier reports on the same, Renault has announced that it will not be pulling away from its joint venture with Mahindra and Mahindra. However, the company will definitely be restructuring its operations of partnership. "Mahindra and Renault will continue to work together in the coming days. We have no problems to work together...we will come out with a detailed restructuring plan over the next 30-45 days," said Marc Nassif, Renault India country general manager and managing director. He also stated that the company is exploring all options and will take a final decision in next 30-45 days.

Nassif also affirmed that the final solution will be definitely most positive and fruitful for both the companies but he refused to divulge more details about the restructuring plans.

Renault is still planning to open its own dealership network as well in India. The company intends to launch at least five new car models in India in next two years including top selling models like Renault Fluence, Renault Koleos that will be manufactured at its Chennai facility. It will also import three models as completely built unit.