Renault-Nissan reportedly wants a third partner to participate in its 400,000 units-a-year JV factory in Chennai.
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It was recently reported that Renault had frozen its investment in the project.
Earlier, it was a three-way JV, but Mahindra & Mahindra (M&M) pulled out early last year, citing the lack of synergy.
The Economic Times reported that Renault-Nissan officials invited the Hinduja group company to move its light commercial vehicle (LCV) joint venture project with Nissan to Chennai.
But Ashok Leyland turned down the offer, it said.
The newspaper report also said that Nissan and Ashok Leyland denies the story.
A Nissan India spokesperson told ET that she was not aware of any third partner being inducted into the Chennai project. “Nissan is going ahead with its small car plans, while Renault has put its plans on hold due to financial problems. I have no confirmation of anything beyond this,” she said.
The Chennai factory project, for which the Renault-Nissan combine is seeking a third partner, is a 50:50 venture between Nissan and Renault.
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By GlobalDataWhile Renault is going slow on plans to manufacture its new cars at the Chennai factory, Nissan’s India strategy is still on track, the newspaper said.
At the Chennai plant, Nissan will produce a family of models based on its new A-platform, including the next generation small car, Micra.
