New Delhi - French auto maker Renault has invited India's Bajaj Auto Ltd to join a 1-billion-dollar manufacturing venture with its partner Nissan Motor company, a newspaper reported Thursday. Renault and Nissan, which are developing a 2,500-dollar car with two-wheeler maker Bajaj, were also negotiating with the Indian firm to extend their venture to market and distribute Renault and Nissan vehicles to be made in Chennai city, the Economic Times reported.
The newspaper, citing industry sources, reported that Renault and Bajaj officials met recently in connection with this issue but Bajaj Auto managing director Rajiv Bajaj declined to comment.
The manufacturing plant in the south-eastern city Chennai with a proposed capacity of 400,000 vehicles annually is to be built at a 1,100-acre site and scheduled to become operational by 2010.
Indian utility vehicle maker Mahindra & Mahindra Ltd had previously agreed to distribute Renault and Nissan vehicles built at Chennai. But it pulled out of the Chennai project earlier this year, saying the returns did not look attractive enough.
