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Wednesday, November 24, 2004
Renault has selected the Indian company Mahindra & Mahindra to support its first foray into India's passenger car market, according to people close to the Mumbai-based tractor and sports utility vehicle maker.
Their joint venture will build the Logan, a low-cost vehicle developed by Renault for emerging markets, which Renault believes it must penetrate to sustain ambitious volume-growth targets.
Mahindra has 40 per cent of the utility market. Renault's move will expand Mahindra's partnership with Renault, for which it already supplies petrol engines.
The Pitesti-based company Automobile Dacia started selling the Logan in September in Romania.
Renault officials announced later the car is also planned to be sold in most of the Western European countries as of the first half of 2005.
Furthermore, the Logan is expected to hit other markets, such as Russia, Columbia, Morocco and Iran.
According to Renault estimates, the Romanian car model would be produced in 700,000 units by 2010.
Posted by Iulia Rasoiu : 11/24/2004 10:10:00 am
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