BOULOGNE-BILLANCOURT (dpa-AFX) - Renault SA (RNLSY, RNO.PA), a French automobile manufacturer, announced on Friday that it has taken full ownership of its Chennai plant by acquiring Nissan's remaining 51% stake in their joint venture, Renault Nissan Automotive India Pvt Ltd. The company also announced that Stéphane Deblaise will be appointed as CEO effective from September 1.
This move is part of Renault's strategy to make India a key international hub and will result in the full consolidation of RNAIPL in the Renault Group's financial statements.
Renault Group is stepping up its plans in India, taking full ownership of its Chennai plant. After opening its biggest design center outside France in April and launching the New Renault Triber, the company plans to release four new vehicles.
The company aims to grow sales in India and boost exports. To lead this effort, Stéphane Deblaise will become CEO of Renault Group.
Deblaise joined Renault in 2000 and has held key roles in Latin America, China, France, and Korea.
The Chennai plant and network, since opening in 2010, has made over 2.8 million vehicles, 1.2 million of which were exported. It is now preparing to build future models on a new, flexible, multi-energy platform. Renault currently has over 350 sales outlets and 450 service centers across India.
On Thursday, Renault SA closed trading, 1.48% lesser at EUR 32.71 on the Paris Stock Exchange.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
