 "Renault Chairman Jean-Dominique Senard (centre) with Nissan Motor President and CEO Makoto Uchida (left) and Renault CEO Luca de Meo (right) at joint manufacturing facility of Renault-Nissan Automotive India, near Chennai on Wednesday. (PHOTO: PTI)")
A year after Nissan Motor Corporation and Renault SA announced their Rs 5,300 crore investment plans in India, the companies have revealed their future portfolio expansion by announcing four new sport utility vehicles (SUVs), which are expected to hit the market starting from 2025.
The Japanese major Nissan told the media on Wednesday that it will continue to invest in the electric vehicle (EV) company Ampere, though Renault shelved the plans to list Ampere.
Makoto Uchida, president and chief executive officer, said on Wednesday that both companies will unveil a five-seater and a seven-seater SUV each. All these models will be manufactured in India.
It was in February 2023 that the companies revamped their global alliance and lined up plans to invest Rs 5,300 crore in India to launch six models, including two EVs. The companies had announced a new long-term plan for India that will increase production, scale up research and development, and shift to carbon-neutral manufacturing.
The Renault-Nissan alliance will use its base in Chennai to make six vehicles for domestic and international customers. Renault Nissan Automotive India reportedly produces 2.7 million cars per year. The Chennai plant produces around 480 cars per day.
Uchida, along with Renault Group Chief Executive Officer Luca de Meo, said that India will continue to play a crucial role in the alliance and the partners have invested $1.8 billion in the country so far. He said that “India is at the heart of the alliance”, and Tamil Nadu is chosen for its dynamism and the potential it offers.
Through these SUVs, the companies will be competing against the likes of Kia Seltos, Maruti Grand Vitara, Hyundai Creta, Toyota Urban Cruiser Hyryder, Škoda Kushaq, Honda Elevate, and Volkswagen Taigun.
The new models will signal a significant increase in exports from India, boosting Chennai’s plant utilisation to 80 per cent from 49 per cent.
According to a global road map, Nissan is planning to launch 30 new models over the next three years, of which 16 will be EVs and 14 will be internal combustion engine (ICE) vehicles.
Renault reached a peak by producing 1 million vehicles in India last year and has set a target of 2 million by 2030, which will be driven by new launches and a planned EV foray.
Renault India is working on a slew of new models, including two ICE products and an A-segment (small car) EV. The new cars will start rolling out in 2025.
Renault India sells three cars, Kwid, Kiger, and Triber, in the country and exports to 14 countries and regions that include South Africa, the South Asian Association for Regional Cooperation, and Asia Pacific.
Most of its export business comes from South Africa.
According to a media report, Renault is planning to sell a stake of about 2.5 per cent in Nissan shares to the Japanese carmaker in a deal that could generate up to €362 million.
