Renault is bringing the first big car in partnership with Nissan, such is the preparation
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Renault Nissan Partnership: French car manufacturer Renault has planned to launch the first car developed in partnership with Nissan Motor by the year 2025. The company had announced a new investment of Rs 5,300 crore through its partner Nissan in February last. Under this partnership, Renault and Japanese company Nissan will invest to bring six new products, including two small electric cars, and upgrade the joint plant at Oragadam, about 45 km from Chennai. Nissan will have 51 percent stake in this joint venture, while Renault will hold 49 percent.
Venkatram Mamilapalle, Chief Executive Officer (CEO) and Managing Director of Renault India, said, we are entering the electric vehicle (EV) market. We are also venturing into the segment for vehicles longer than four metres. We already have cars like Kwid, Kaigar and Triber in India. The growth trend for Renault has continued to be good, he added. I think we will do better (in terms of profits) with new products.
When asked about the model being developed in partnership with Nissan, Mamillapalle said the new product is likely to hit the market in the year 2025 and will be in the vehicle segment longer than four metres. Refusing to give any details about the new model, he said, “We are working on four models.” Work is going on fast in this direction. We are also trying to expand our dealer network.
On total vehicle sales in India, Mamilapalle said Renault sold a record 84,000 vehicles last year in the domestic market while 28,000 vehicles were exported. He said that the company’s Tamil Nadu plant has crossed the historic figure of producing one million vehicles. Renault India has a production plant at Oragadam near Chennai in Tamil Nadu. Nissan Automotive India Private Limited is also its partner in this. Renault’s production capacity is around 4.80 lakh units per annum. (with language input)
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