Renault-Nissan Alliance to Invest $2 Billion in Russia

French-Japanese alliance Renault-Nissan plans to invest up to $2 billion (approx. €1.36 billion) in Russia by 2015, Japan's Nikkei business daily has reported, citing Russian government sources. They will join with AvtoVAZ which is 25 percent-owned by Renault, to boost combined sales to at least 1.6 million vehicles per year by 2015. Nissan and Renault have plans to take a combined stake in the Russian company of at least 50 percent, with Nissan taking more than half of the remaining 25 percent, Carlos Ghosn, chief executive of both Nissan and Renault told Reuters in February.

In related news, Renault-Nissan is considering building an assembly plant in the Russian Far East. Under plans, the facility is to produce between 10,000 and 30,000 Nissan or Renault cars of business class. Further project parameters, including investment and its timeframes, have yet to be disclosed.