“Nissan is betting big on India…and the plans (for India) remain intact despite this global turbulence,” he said.
Torres was responding to a query on whether the announcement for global job and production cuts will have an impact on Nissan’s India operations.
“Contrary to the perception, in India, we are strengthening our members, growing our production, and we just included almost 600 new employments in our manufacturing plant in Chennai,” Torres said.
“This move is to help the production shifts. We are expanding production very soon with two new models…this is despite the global action, which involves restructuring. We don’t forecast that the impact will be in India because our plans remain untouched. Of course, the key point for us is to keep being competitive. Because, in the end, this is what is considered most important inside Nissan.”
Earlier in July this year, Nissan India announced that it is looking to introduce five models over the next 30 months as it looks to turn around its operations in the fast-growing Indian car market. The company has set a target of tripling its domestic and export volumes to 1 lakh each per annum by the end of FY26. In November this year, Nissan announced that globally, it would cut 9,000 jobs and production by 20 per cent as part of a turnaround plan and cut costs by 400 billion yen (USD 2.6 billion). “There is no risk, or there is no impact for India as far as the plans for India are concerned, they will remain intact. We will keep on being competitive, right in terms of product, in terms of cost, in terms of everything, including our partners, suppliers and dealers,” Torres noted.
The third shift at the Chennai plant started some weeks ago, as the company targets full capacity utilisation of the manufacturing plant.
“It means that we have grown one full new shift. And then also moving forward towards 2026, where we will need to put our manufacturing plant at full capacity with both lines at three shifts. As of today, we are modifying one of them for the new models,” Torres added.
If the company achieves its volume forecast with the new models by the end of 2026, he said, “This will put the plant utilisation at more than 80 per cent, which will require more headcount than today”.
“Increasing headcount is part of our commitment. We have committed to the Tamil Nadu government to grow our headcount next year based on the new investments, and we are well supported by the Tamil Nadu government.”
Moreover, he said, the Reault-Nissan alliance had committed to more than 2,000 employment creations not just in manufacturing, but also in other areas like R&D as part of their USD 600 million investment plan announced in 2023.
Torres also said the company is now refurbishing one line to adapt to new technology, such as EVs, ahead of the planned launch of an electric SUV.
“We are planning to grow our volumes both in domestic and export markets. Our target is to increase three-times our domestic and export volume by FY26 compared to FY23…Our plans remain intact, and our plans for the new models remain untouched,” Torres asserted.
When asked about sales growth, Torres said in the ongoing fiscal 2024-25, Nissan India is looking at over 45 per cent total sales growth at over 1.05 lakh units against 72,666 units sold in the previous fiscal on the back of its upgraded compact SUV Magnite.
The company has expanded its export market to more than 65 countries from just 14 nations in 2023, with the introduction of the left-hand drive version of the Magnite, he added.
The company is targeting to export over 74,200 units in 2024-25 against 42,597 in the previous fiscal.
In the domestic market, Nissan India expects sales to grow by 4 per cent to 31,155 units in 2024-25 compared to 30,065 in the previous fiscal.
