Renault, the French auto foremost has deferred its plans to introduce cars in India by the year 2010. The put off is due to the retardation and further it has planned to restrain on investments on the congregation line at its Chennai facility.
In the previous year, the company has publicized that Rs.4500 crore will be invested over a time of seven years to outcome with four lakh cars yearly. Adding, the company announced that this outcome will be by having coalition with its Japanese group company Nissan. But, presently, it has clogged hiring for production actions and it is lingering for the situation in the market to get picked up.
A senior official from Renault said that the company will be lose out the Renault cars emergence in the Indian market by 2010 as the investment on production facility in Chennai is iced up provisionally.
Initially, the company has decided to roll out cars based on four daises from its Chennai facility. Adding, it will have a production ability of 2 lakh and the remaining with Nissan.
Moreover, he refused to provide the correct number on the investment that has been hindered. But he said that earlier an amount of Rs.900 crore has been invested on the facility by Nissan and Renault jointly. Further, the glacial is only on the production line of Renault but remaining infrastructure improvement and expansion of the facility is enduring.