Nissan Boosts India's Export Role with $100 Million SUV Investment

Japanese automaker Nissan has committed an additional $100 million to enhance India as an export hub for its SUV, Magnite. The investment, part of broader $600 million plans, aims to expand production and sales in India, including creating left-hand drive versions for export to 65 markets.

Nissan, the Japanese automotive giant, announced a $100 million investment to fortify India's status as a key export hub for its compact SUV, the Magnite. This investment is a portion of a more extensive $600 million strategy aimed at bolstering product development and sales infrastructure in the region.

According to Frank Torres, President of Nissan India Operations, the initiative signifies a strong commitment to the Indian market and aims to expand export capabilities from 20 to 65 markets by 2026. This move is supported by the creation of left-hand drive versions of the Magnite.

In tandem, Nissan plans to diversify its portfolio in India by introducing five models over the next 30 months, including two mid-size and one electric SUV. The company aims to increase its market share from 1% to 3% through these efforts.

(With inputs from agencies.)