Renault-Nissan to invest $160 mln in Korea unit

Renault-Nissan Alliance will invest $160 million to roll out Nissan models at its South Korean unit, the French automaking group said Friday. Renault-Samsung Motors in the southern port of Busan will produce an annual 80,000 units of Nissan's crossover Rogue, beginning in 2014, Renault-Nissan said in a statement. "Adding production in Korea shows a commitment across the alliance to helping Renault Samsung Motors achieve its targets for cost competitiveness and growth," said Renault-Nissan Alliance chairman and CEO Carlos Ghosn. The new investment plan comes at a time when Renault-Samsung has been suffering from plunging sales. In the first six months to June this year it sold 83,062 units, down 33 percent from a year earlier.