Divya Delhi:  Japan's Nissan has decided to stop manufacturing cars in India and will sell its 51% shareholding in a factory in Chennai to joint venture partner France's Renault. The company, which has struggled to gain market share in India, despite spending over 550 million euros till date and further committing another 140. million euros for new products, will now pay Renault to manufacture its models at the Chennai plant as it focuses on boosting sales and service. However, company executives insisted that Nissan "remains committed" to its operations in India, and "there are no plans to exit". Business has been tough for Nissan in India that sells just one locally-made model Magnite. The company managed to sell only 28,000 units in FY25 and has a 0.7% share in total industry volumes of around 41 lakh units. Frank Torres, president for Nissan India as well as local MD Saurabh Vats, said new models will continue to be introduced here and there will be no let-up in launches. "We are here to stay, and there are no reasons for us to leave," Torres said, when asked whether the company is preparing for an eventual exit after selling its factory, a route previously adopted by US giants General Motors and Ford.