A statement issued by Renault has vehemently denied being in talks to Bajaj Auto for its Chennai manufacturing venture. The statement issued by Renault was in reaction to media speculations about Renault considering a tie up with Bajaj Auto in its Chennai plant with Nissan.
The statement from Renault India stated, "Contrary to reports in a section of the media today, we wish to state very emphatically, that there have been no talks with Bajaj Auto to partner us in the Chennai project." The statement also reiterated that the reports in media are completely speculative and unsubstantiated and comes as a surprise to the company. It however, stated that it is in talks with Mahindra and Mahindra for distribution of its cars through M&M network.
The Chennai manufacturing unit is a fifty-fifty joint venture between Renault and Nissan to manufacture 4 lakh passenger cars. Nissan Automotive India has invested 700 million Euros for the project being developed in Chennai.
Renault Nissan has a joint venture with Bajaj Auto for producing its ultra cheap car in India at the new manufacturing unit coming up at Chakan, near Pune that would also produce four lakh units annually.
