Renault SA says it will produce a new model, the X90, on a new line at its Avtoframos subsidiary in Moscow. Avtoframos is owned 62% by Renault and 38% by the city of Moscow. Investment for local production and marketing of the X90 family sedan will be E230 million ($247.5 million). Production is slated to begin at Avtoframos mid-2005 with initial annual output of 60,000 units and 2,000 workers. Renault’s Dacia plant in Pitesi, Romania will begin initial production of the X90, expected to ...
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