Nissan, Renault invest Rs 2,880 cr

Japanese auto major Nissan Motor today said so far the company, along with its joint venture French partner Renault, has invested around Rs 2,880 crore at Oragadam, near Chennai. The car major and its JV partner have committed to invest Rs 4,500 crore in the facility, which is expected to roll out its first car in May 2010. Kiminobu Tokuyama, managing director and chief executive officer, Nissan Motor Company said that the total investment will spread over for seven years.