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News of  April 04, 2001


 


Renault set to make Dacia a global entry-level brand

Paris - On September 29, 1999, Renault acquired 51% of the capital of the Romanian car maker Dacia, amounting to $50 million. Renault has since increased its equity stake to 80.14% and put the entire company on track for rapid, wide-reaching modernization. By 2004, Dacia will have invested a total of E356 million in a revival plan, excluding capital expenditures for the E5,000 vehicle. Renault's goal is to turn Dacia into a brand that is "modern, rigourous and attentive to the needs of its customers", to support the growing car population in new automotive markets. In 2010, Renault will produce more than 500,000 vehicles under the Dacia nameplate worldwide, of which 200,000 will be made in Romania...

(April 2, 2001)

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