Hinting the biggest drop that all is not well in its partnership with Mahindra & Mahindra (M&M), French auto major Renault said if things did not work out, it can break ties and may even drive in its new product in India with a different partner, reports Business Standard.
Renault, which has a joint venture with M&M that sells entry level sedan Logan, has been a subject of speculation over its relationship with the Indian partner and declining sales of the car had put a question mark over the future of the JV, Mahindra Renault, in which the French firm has 49% stake.
Renault has other alliances with Bajaj Auto for a small car project and Ashok Leyland through Nissan for light commercial vehicles in India.
Shares of Mahindra & Mahindra gained Rs 4.05, or 0.45%, to trade at Rs 912.00. The total volume of shares traded was 32,301.00 at the BSE (10.53 a.m., Wednesday).
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