(Reuters) -Renault Group said on Monday it would acquire the remaining 51% shareholding in Renault Nissan Automotive India Private Ltd, currently held by Nissan Motor Corp, taking complete ownership of the manufacturing plant.

Located in the southern Indian city of Chennai, RNAIPL began operations in 2010, with Paris-based Renault and Japan-based Nissan ( NSANF ) holding a 30% and 70% stake, respectively.

Nissan's ( NSANF ) stake was reduced to 51% as part of a deal in 2023 to jointly invest $600 million to make six new models in India.