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Article: India: Nissan to Halt Second Phase of India Factory Until Recovery.
- Article from:
- TendersInfo
- Article date:
- November 9, 2009
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Byline: kusumv03
Nissan Motor Co., Japan s third- biggest carmaker, said it will suspend the second phase of its factory being built in the southern Indian city of Chennai until global demand for automobiles recovers.
We didn t suspend because we do not believe in the potential of India s internal market or the capacity to export, Chief Executive Officer Carlos Ghosn said at the India Economic Summit organized by the World Economic Forum in New Delhi. Resumption will depend on when the decline in the world market stops, he said.
Nissan, which is building the plant in partnership with Renault SA, said in June that the Chennai factory is key to ...