Japanese auto major, Nissan is ready to launch its manufacturing plant in Chennai from where they will launch its new generation small car Nissan Micra for the Indian auto market. This manufacturing plant will be developed as a joint venture with Renault.
According to the company official the manufacturing plant will be inaugurated by Carlos Ghosn, the Chairman and CEO of the Nissan-Renault alliance on 17th March.
The Chennai based new manufacturing plant will be developed by the Renault-Nissan Automotive Pvt Ltd, a joint venture between Renault-Nissan alliance and it plans to invest Rs 4,000 crore with a capacity to manufacture four lakh units annually.
According to the company official, they will launch its most awaited small car Nissan Micra in April or May this year.
For the domestic market, Nissan had announced that it plans to have nine models in India by 2012, out of which five would be manufactured locally. Currently Nissan is selling only three models, the sports car Nissan 370Z, Nissan Teana sedan and SUV
Nissan X Trail in India. And the company has targeted 5.5 percent of market share in India in the future, which is almost equal to the global market share of Nissan. The Indian car market is at over 1.2 million units currently.