By Kosaku Narioka

Nissan Motor Co. and Renault S.A. plan to invest about $600 million in India to produce six new models, including two electric-vehicle models, the companies said Monday.

The six new models will comprise of three for each company on common platforms and will be engineered and built in Chennai, India, the French and Japanese auto makers said.

Two new electric vehicles will be the first electric vehicles for both Renault and Nissan in India, they said.

Additional research and development activities will create up to 2,000 new jobs, the companies said.

The French auto maker recently agreed to reduce its stake in the Japanese auto maker to 15% from 43% and retain a 15% cross-shareholding with Nissan, as part of the alliance's reorganization.

The alliance's new initiatives include operational projects in Latin America, India, Europe, they have said.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

February 13, 2023 01:03 ET (06:03 GMT)

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