Renault: India exciting place for biz
PTI[ THURSDAY, APRIL 05, 2007 08:25:38 PM]
NEW DELHI: Fresh from rolling out its low- cost sedan 'Logan' in the country, French auto giant Renault's President and CEO Carlos Ghosn today met Prime Minister Manmohan Singh and apprised him about his firm's business plans in India.
"He (Ghosn) spoke about business plans for India by the joint venture and found India to be an exciting place for doing business," Prime Minister's Media Adviser Sanjaya Baru said.
Renault holds 49 percent stake in the joint venture with India's Mahindra & Mahindra.
Ghosn was also impressed by the wide ranging creativity in India, he added.
The JV on Tuesday unveiled 'Logan', an entry-level no frills sedan with prices starting at Rs 4.28 lakh for the base petrol variant. It will roll out 50,000 units of the car this year from Mahindra's Nashik facility set up at a cost of nearly Rs 700 crore.
While the 1.4 litre petrol engine variant is priced at Rs 4.28 lakh (ex-showroom Mumbai), the 1.61 litre will be priced at Rs 5.69 lakh. The 1.5 litre diesel engine car, which has two variants, are tagged at Rs 5.47 lakh to Rs 6.44 lakh respectively.
Earlier, Ghosn along with Mahindra and Mahindra Vice Chairman Anand Mahindra had called on Tamil Nadu Chief Minister M Karunandihi in Chennai and thanked him for the state government's support to the Mahindra-Renault-Nissan consortium's common manufacturing plant at Oragadam near here.
source- Economic Times/Automobiles