The French car manufacturer, Renault has delayed its plans to launch new car models by 2010. Renault had tied up with Japanese car maker Nissan to set up a plant in Chennai with about Rs 4,500 crores investment for duration of seven years for producing four lakh cars annually.
Due to reduction in the car sales, French car maker has decided to slow down its plans and wait till the market scenario gets better. Last week the French government funded Renault with 3 billion Euros as loan for a tenture of five years. This was done so that the French auto giant doesn’t cut any jobs.
Source:http://theautomotiveindia.wordpress.com/2009/02/16/renault-to-delay-new-launch-plans-in-india/
Due to reduction in the car sales, French car maker has decided to slow down its plans and wait till the market scenario gets better. Last week the French government funded Renault with 3 billion Euros as loan for a tenture of five years. This was done so that the French auto giant doesn’t cut any jobs.
Source:http://theautomotiveindia.wordpress.com/2009/02/16/renault-to-delay-new-launch-plans-in-india/