Renault Takes Full Control Of Chennai Plant After Buying Nissan’s Remaining Stake
Renault also named Stephane Deblaise as CEO for its India operations, effective Sept. 1.
Renault Group has acquired Nissan’s remaining 51% stake in their joint manufacturing facility in Chennai, making it the sole owner of Renault Nissan Automotive India Pvt. Ltd. The terms of the deal were not disclosed.
The plant, which has been operational since 2010, will now be fully consolidated into Renault Group’s financials. Renault said the Chennai facility will continue to manufacture Nissan vehicles under the existing arrangement despite the ownership change.
The facility has produced over 28 lakh vehicles and 46 lakh powertrains to date, with 12 lakh cars exported to more than 100 countries. Its annual production capacity exceeds 4 lakh units.
The company plans to introduce a new multi-energy modular platform at the site to support future Renault models. The facility currently manufactures vehicles on the CMF-A and CMF-A+ platforms.
Renault also named Stephane Deblaise as CEO for its India operations, effective Sept. 1. Deblaise previously served as CEO of Renault Korea and has held multiple global roles in the group since joining in 2000.
“With full ownership of our plant in Chennai, we now have all the means to accelerate in India,” said Renault Group CEO François Provost.
The company also operates an engineering centre in India with Nissan, which supports product development for both domestic and export markets.
