Friday, April 27, 2007
Japanese carmaker Nissan has called off talks with Maruti Udyog Ltd to set up a plant in the country for manufacturing 200,000 cars a year. Instead, it will join the alliance between Mumbai-based Mahindra and Mahindra and France’s Renault SA, which owns 44 per cent of Nissan’s equity. However, Nissan remains committed to the deal signed with Maruti, under which India’s largest carmaker, 54 per cent owned by Japan’s Suzuki Motor, will make 50,000 cars for Nissan for exports.
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