Renault Group is set to buy out Nissan Motor Co. Ltd. from their joint venture in India for complete ownership of their car plant in Tamil Nadu.
The French carmaker will acquire 51% shareholding of the Japanese carmaker in Renault Nissan Automotive India Pvt. Ltd. to expand its international business, according to a company statement on Monday. The JV plant will continue to produce Nissan models, including the Magnite SUV, as well as serve as a hub for its exports business.
The transaction, subject to regulatory approvals, is expected to be completed mid-2025.
The carmakers will continue to operate jointly Renault Nissan Technology & Business Centre India—a global capability centre.
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