Renault holds on for car launch this year.

RENAULT has temporarily put on hold its plans to launch cars in India by 2010. This comes in the wake of the global slowdown as the company has decided to hold back on investments on its assembly line at the plant in Chennai.

T h e company announced a Rs 4,500 crore investment last year over a period of sever years to produce four lakh cars annually in an alliance with Nissan. However it has now stopped hiring for production activities and is awaiting for market conditions to improve. The company had originally planned to roll out cars based on four platforms where it would have a production capacity of 2 lakh units, with the rest produced in collaboration with Nissan, in a bid to keep the cars' prices down.