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Nissan and Renault to invest $600m to make new models in India

Auto giants unveil plans for six new cars and 2,000 jobs in Chennai

Nissan and Renault are targeting India, which last year eclipsed Japan to become the world's third-largest auto market. (Source photos by EPA/Jiji) 

TOKYO -- Japanese carmaker Nissan Motor and French counterpart Renault on Monday unveiled plans to invest $600 million to develop new models in India, as they push to accelerate their business in one of the world's fastest-growing auto markets.

The companies -- which last week announced a revamp of their partnership amid fierce competition in areas such as emerging markets and electric vehicles -- said they would collaborate on six new cars for customers in India as well as for export.

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