Ramon Costa
Renault has conducted initial discussions with Indian tycoon Sajjan Jindal’s JSW Group regarding a potential joint venture, sources revealed.
JSW is involved in the automotive, steel, energy, and infrastructure sectors. The group holds a 35% share in MG Motor India Pvt. via a partnership with China’s SAIC Motor Corp.
Renault, holding a 36% stake as Nissan’s largest shareholder, is nearing the completion of acquiring the Japanese automaker’s share in their joint venture located in Chennai, southern India, where production commenced in 2010. Sources indicate that the agreement is expected to finalize in a matter of weeks.
For the year ending March 31, Renault's sales in India reached approximately 38,000 vehicles, constituting less than 1% of the total passenger car sales in the country.
source: bloomberg.com
JSW is involved in the automotive, steel, energy, and infrastructure sectors. The group holds a 35% share in MG Motor India Pvt. via a partnership with China’s SAIC Motor Corp.
Renault, holding a 36% stake as Nissan’s largest shareholder, is nearing the completion of acquiring the Japanese automaker’s share in their joint venture located in Chennai, southern India, where production commenced in 2010. Sources indicate that the agreement is expected to finalize in a matter of weeks.
For the year ending March 31, Renault's sales in India reached approximately 38,000 vehicles, constituting less than 1% of the total passenger car sales in the country.
source: bloomberg.com