NISSAN TO MAKE LCV WITH ASHOK LEYLAND

Chennai, being called as the Detroit of India will have one more vehicle manufacturing plant as the Tamil Nadu government has approved the Ashok Leyland and Nissan joint venture of LCV manufacturing plant. The $ 500 million facility is to come up at Vallam near Sriperumbudur off Chennai. The plant will produce 200,000 vehicles a year once the plant starts its production in 2010. Earlier the two majors had signed up for three joint venture companies:

1. Vehicle Manufacturing Company (Ashok Leyland 51%, Nissan 49%).
   
2. Powertrain Manufacturing Company (Nissan 51%, Ashok Leyland 49%).
   
3. Technology Development Company (50:50 Partnership).