Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Nissan, Renault Invest $2Bln

TOKYO — Nissan Motor and its partner Renault are planning to invest as much as $2 billion in Russia by 2015, Japan's Nikkei business daily reported Friday, citing the Russian government.

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, said in February.

(Reuters)