Renault, Nissan and Mahindra Announce Chennai as the Location for Their 400,000 Capacity Production Site in India - VIDEO ENHANCED

CHENNAI, India - February 28, 2008: Renault, Nissan and Mahindra signed a memorandum of understanding at a press conference in Chennai, India, and announced that Chennai has been chosen as a 400,000 capacity production site, producing vehicles for each carmaker and powertrains for Renault and Nissan. Renault, Nissan and Mahindra are committed to investing a minimum of €686 million in the site during the next seven years, with an equity holding of 50% by Mahindra and 50% by Renault and Nissan. The three automakers will optimize production costs through economies of scale thanks to joint investment in plant and infrastructure, as well as purchasing synergies.