French car company Renault has put its India plans on hold, for the time being. The company had announced last year that it planned to make an investment of Rs.4500 crore in the country over a period of seven years to produce four lakh cars annually, along with its Japanese partner Nissan. It was to launch cars based on 4 platforms from its Chennai plant by 2010. However, keeping in mind the current economic scenario, hiring and production at the plant, which has a production capacity of 2 lakh cars per annum, have been put on hold. Renault is now waiting for conditions to improve before taking its next step. While production activities are on hold, infrastructure development at the plant is continuing.
