Renault-Nissan to invest $160 mn in Korea

The French Japanese Alliance, Renault-Nissan said Friday it will invest $160 million in its South Korean unit of Renault Samsung Motors Co. and share a production line with Nissan to increase the South Korean unit's sales. The investments will help Renault Samsung Motors Co and shared with Nissan to make 80,000 units of the SUV model, Nissan Rogue, starting 2014. "Adding production in Korea shows a commitment across the Alliance to helping Renault Samsung Motors achieve its targets for cost competitiveness and growth," South Korean news agency (Yonhap) quoted Renault-Nissan Alliance Chairman, Carlos Ghosn as saying in a statement. Renault-Samsung has an annual production capacity of 300,000 vehicles yet it only produced 73,810 units in the first six months of this year.