Marc Nassif, Head, Renault India, has clarified that its joint venture with M&M is on track, reports CNBC-TV18's Swati Khandelwal Jain. He says Renault is looking forward to future products from the partnership with M&M.
This is the first interview ever since he took over the reigns of Renault India. Nassif spoke exclusively to us about how he was surprised with the speculative reports that the M&M-Renault JV is facing some trouble.
He has clarified that there is no breach between M&M and Renault JV. On product strategy, they said they have to slowdown because there is an overall slowdown in the economy. When they launched in the first year itself, they sold about 2,000 cars a month, but now they have come down to about 400-600 units only. To that, he said he is still optimistic about Indian market and that they will revive it back,. They are already working on a facelift version of Logan and that should be out sometime soon.
He also gave an example of how they entered Brazil and it took about ten years for them to come up in that market and then they emerged as winners. Now, they see the same future for the Indian market. They said that tying up with M&M is a very positive thing that has come in. On the MoU, they say it is very much on track and both parties are discussing how to take it forward.
Talking about the Renault-Bajaj JV, he clarified that it is also on track and there has been a lot of speculation about whether Bajaj is planning to pull out or there could be some problem there. He clarified once again that both parties are discussing some issues and things are on track for both JVs.
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