The car, sold under the Mahindra-Renault badge, will see a rebranding exercise and be manufactured and distributed by M&M alone.
Chennai and Ennore ports are set to become hub for car exports from South India. After Hyundai, the two ports have started attracting global manufacturers like Renault SA, Nissan, and Ford.
The companies continue to see heavy demand in utility cars.
Renault and Nissan's decision to launch their own compact cars is independent of a tie-up with Pune-based motorcycle maker Bajaj Auto to develop a low-cost car that is expected to debut in 2011. A formal joint venture agreement is yet to be signed among the partners, though work on the small car is progressing at a slower pace.
Nissan Motor Co has entered into an eight-year sponsorship agreement with the International Cricket Council (ICC), a company executive said, in a bid by the Japanese car maker to boost its small market share in cricket-crazy India.
Nissan and Renault say they will compete with new models, especially small cars, and by growing their dealer network.
General Motors' Tavera recall prompts Union government to formulate a stricter policy.
Car makers are trying hard to boost sales in India.
Ghosn's partnership with motorcycle and auto-rickshaw maker Bajaj Auto got most publicity.
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