Automakers Renault and Nissan announced this week their Renault-Nissan Alliance will invest $800 million in Argentina by 2018, which marks the “first time Nissan will build vehicles in Argentina” according to the company.
Renault-Nissan Alliance Chairman and CEO Carlos Ghosn went to Argentina for the first time since right wing candidate Mauricio Macri won the elections, at the same time the Alliance prepares to launch its first dedicated pickup truck manufacturing line to produce vehicles for Nissan, Renault and Alliance partner, Daimler.
“The new line represents an investment of $600 million,” the company said in a press-released.
Additionally, Renault Argentina announced it will invest another $100 million in a new model to be produced at its Santa Isabel plant in Córdoba, following a $100 million investment announced in March last year for the production of Renault Sandero, Sandero Stepway and Logan models at the same plant.
The three combined investments total $800 million and should be completed by 2018.
“The Renault-Nissan Alliance is deeply committed to Argentina and the local partners who are joining these ambitious projects,” Ghosn said.
“As the third-largest automotive market and the center of pickup manufacturing in Latin America, Argentina is key to the regional growth plans of our brands,” he added.
Explaining the launching of its dedicated pickup truck manufacturing line to produce vehicles for Nissan, Renault and Daimler, the alliance said the $600 million project should produce 70,000 units/year, creating 1,000 direct and 2,000 indirect jobs.