French auto major Renault on Monday said it will buy out its Japanese partner Nissan's stake in their Indian joint venture -- Renault Nissan Automotive India Private Ltd. Renault Group would own 100 per cent of Renault Nissan Automotive India Private Ltd (RNAIPL), by acquiring the 51 per cent shareholding currently held by Nissan, the company said in a statement.
The global alliance between Renault-Nissan and Daimler AG announced today is likely to add one more car to the list of small cars jostling for market share.
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