Auto Expo 2010: Nissan to source $40 million worth of auto components from India

Japanese auto maker Nissan said today that it planned to source $40 million (around Rs185 crore) worth of auto components from India by 2012.

Kiminobu Tokuyama, Nissan Motor India managing director and CEO said there was a plan for the company to utilise its Chennai facility for the supply of components to Nissan's global operations in Thailand, China and Japan and by 2012. The company was looking at sourcing components worth about $40 million from India, he added.

He added that this year the company was looking to source components worth $20 million from India, and by 2011this would rise to $30 million.

The Japanese auto major is also on track to start commercial production of its global compact car from the Chennai plant, in which it has already invested Rs4,500 crore in association with Renault.

Tokuyama said, the compact car would be based on the V-platform, from which it expected three models a hatchback, a sedan and an option that was under evaluation currently.

The first car that will roll out from the global compact car platform in Chennai would premiere at the Geneva Motor Show 2010.