Japanese auto major Nissan, which has entered into a tripartite joint venture with Renault and Mahindra and Mahindra for setting up a plant in Chennai, is almost certain to have 25 per cent stake in the venture, while it plans to launch premium sedan Teana in India next week.
Sources said although a final decision has not been taken yet, Nissan and partner Renault have more or less agreed on having equal stake in the joint venture, in which the Indian partner Mahindra and Mahindra will have 50 per cent of equity capital. Nissan India Director (Marketing and Sales) Neerag Garg declined to comment on.
The joint venture had proposed an investment of Rs 4,000 crore (Rs 40 billion) in Chennai for a greenfield plant with a capacity of 400,000