Renault-Nissan Alliance investment in Argentina tops $800 million

News Hour:

Renault-Nissan Alliance Chairman and CEO Carlos Ghosn confirmed today that the Alliance will invest $800 million in Argentina through 2018.

Ghosn’s visit to Argentina is his first since President Mauricio Macri’s inauguration and comes as the Alliance prepares to launch its first dedicated pickup truck manufacturing line to produce vehicles for Nissan, Renault and Alliance partner, Daimler. The new line represents an investment of $600 million. Ghosn noted it also will mark the first time Nissan will build vehicles in Argentina.

Renault Argentina also announced it will invest another $100 million in a new model to be produced at the Santa Isabel plant in Córdoba. This latest investment follows a $100 million investment announced in March 2015 for the production of Renault Sandero, Sandero Stepway and Logan models at the plant.

CEO of Renault-Nissan Group, Carlos Ghosn

CEO of Renault-Nissan Group, Carlos Ghosn

Ghosn met with President Macri to reiterate the Alliance’s commitment to Argentina, provide insights into future plans and thank the President for his forward-looking approach on trade and investment.

“The Renault-Nissan Alliance is deeply committed to Argentina and the local partners who are joining these ambitious projects,” Ghosn said. “As the third-largest automotive market and the center of pickup manufacturing in Latin America, Argentina is key to the regional growth plans of our brands.”

During his visit, Ghosn also toured the Santa Isabel Industrial Complex where preparations for new investments are underway. He also met with key automotive suppliers that will support the Alliance’s pickup production.

Avatar

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Advertisement

News of the Month

Scroll Up
%d bloggers like this: