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Nissan sues India over outstanding dues, seeks over $770 million


Nissan sues India over outstanding dues, seeks over $770 million

New Delhi, Dec 01 (ANI): Japanese automaker Nissan Motor has begun international arbitration against India and has sought over $770 million in connection to a dispute over state incentives. Last year, Nissan sought payment of incentives due from the Tamil Nadu Government as part of a 2008 agreement to set up a car manufacturing plant in the state.

The automaker said that its repeated requests to Tamil Nadu officials were overlooked and even a plea by company's chairman, Carlos Ghosn, turned futile. Officials from several ministries assured Nissan that payment would be made.

In August, Nissan gave India an ultimatum to appoint an arbitrator. Other automakers, including Ford and Hyundai Motor, have set up production hubs in the state.

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