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Nissan had only "suspended" its association with Renault. "There is no chance of Nissan going out from the alliance," Nissan Motor Executive Vice-President and Chief Recovery Officer Colin Dodge told reporters here.
Dismissing as "untrue" reports that claimed that the two companies had announced a break-up, Dodge said as of now, it (the contract) is under "suspension". "Our contract with them is for 10 years and our alliance will continue," he said.
Renault last year announced Rs 4,500 crore-investment over a period of seven years to produce four lakh cars annually in association with Nissan and set up a manufacturing plant in Oragadam, 45 km from here.
"Now we have suspended the activities (under the partnership) and are waiting for the market conditions to improve", Renault India Country General Manager Marc Nassif said.
Renault had also entered into a partnership with Mahindra and Mahindra to offer Mahindra Renault range of passenger cars vehicles.
Currently the investments in the production plant had been temporarily frozen, but there was no chance of Nissan going out from the alliance, Dodge said.
Dodge said their plant in Oragadam, expected to be operational by May 2010, would consist of two lines in the assembly area but with the suspension of their contract with Renault, initially the plant would have one line. "Once they have adequate funding for the project, the second line, dedicated to Renault, would also be in place", he said.
Nissan had originally planned to roll out cars based on four platforms from the Chennai plant. While the total production capacity of the plant is four lakh units per year (once the plant becomes fully operational), Renault would have a production capacity of two lakh units, while the rest with Nissan.
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