Arab Today, arab today renaultnissan to invest 160 mln in korea unit
Last Updated : GMT 06:53:52
Arab Today, arab today
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Renault-Nissan to invest $160 mln in Korea unit

Arab Today, arab today

Arab Today, arab today Renault-Nissan to invest $160 mln in Korea unit

Seoul - AFP

Renault-Nissan Alliance will invest $160 million to roll out Nissan models at its South Korean unit, the French automaking group said Friday. Renault-Samsung Motors in the southern port of Busan will produce an annual 80,000 units of Nissan\'s crossover Rogue, beginning in 2014, Renault-Nissan said in a statement. \"Adding production in Korea shows a commitment across the alliance to helping Renault Samsung Motors achieve its targets for cost competitiveness and growth,\" said Renault-Nissan Alliance chairman and CEO Carlos Ghosn. The new investment plan comes at a time when Renault-Samsung has been suffering from plunging sales. In the first six months to June this year it sold 83,062 units, down 33 percent from a year earlier.

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