Yet another JV in auto industry. Generally they havent been so popular except for the Hero Honda!
Japanese automaker Nissan Motor plans to build a car plant in the Indian port city of Chennai with its French partner Renault SA and local firm Mahindra and Mahindra Ltd, a news report said Saturday.
This plant, which is expected to start operating in 2009, will aim to turn out around 500,000 units a year, the Nikkei said, adding that an official announcement is expected on Monday.
The newspaper did not report the size of the investment.
The venture will likely be set up with the Nissan-Renault alliance putting up half the necessary investment and Mahindra and Mahindra providing the rest, the newspaper said.
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