Renault-Nissan Alliance investment in Argentina tops U.S. $800 million

• Alliance prepares to launch first dedicated pickup manufacturing line for Nissan, Renault and Daimler in the Americas
• Pickup marks first time Nissan will manufacture in Argentina
• Carlos Ghosn meets with Mauricio Macri, President of Argentina

BUENOS AIRES, July 29, 2016 /CNW/ - Renault-Nissan Alliance Chairman and CEO Carlos Ghosn confirmed today that the Alliance will invest U.S. $800 million in Argentina through 2018.

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Ghosn's visit to Argentina is his first since President Mauricio Macri's inauguration and comes as 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 U.S. $600 million. Ghosn noted it also will mark the first time Nissan will build vehicles in Argentina. 

Renault Argentina also announced it will invest another U.S. $100 million in a new model to be produced at the Santa Isabel plant in Córdoba. This latest investment follows a U.S. $100 million investment announced in March 2015 for the production of Renault Sandero, Sandero Stepway and Logan models at the plant.

Ghosn met with President Macri in Buenos Aires to reiterate the Alliance's commitment to Argentina, provide insights into future plans and thank the President for his forward-looking approach on trade and investment.

"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."

During his visit, Ghosn also toured the Santa Isabel Industrial Complex where preparations for new investments are underway. He also met with key automotive suppliers that will support the Alliance's pickup production.

Highlights of the one-ton pickup U.S. $600 million investment

• Announced originally in April 2015, the Alliance investment of U.S. $600 million led to the signing of an agreement this month with the province of Córdoba.
• The project has the capacity to produce 70,000 units a year and is expected to generate up to 1,000 direct jobs and 2,000 indirect jobs.
• Three versions of this pickup will be produced in Argentina: the Nissan NP300 Frontier in 2018, followed by the Renault Alaskan and a model for Daimler by end of the decade.

http://www.media.blog.alliance-renault-nissan.com/news/5965

SOURCE Renault-Nissan Alliance

Media contacts: Marcelo Klappenbach, Gerente de Comunicaciones Corporativas, Nissan Argentina S.A., T: [phone], [email protected]; Natacha Schvartz, Jefe de Comunicación Externa, Renault Argentina, T: [phone], [email protected]