Renault Nissan Partnership: French carmaker Renault plans to launch its first car developed in partnership with Nissan Motor by 2025. The company had announced a fresh investment of Rs 5,300 crore through its partner Nissan last February. Under the partnership, Renault and Japanese company Nissan will invest in bringing six new products, including two small electric cars, and upgrading the joint plant at Oragadam, about 45 km from Chennai. Nissan will hold a 51 percent stake in the joint venture, while Renault will hold a 49 percent stake.
Renault India Chief Executive Officer (CEO) and Managing Director Venkatram Mamilapalle said, “We are entering the electric vehicle (EV) market. We are also entering the segment for vehicles longer than four meters. We already have cars like Kwid, Kaigar and Triber in India Renault’s growth trend continues, he added. I think we will do better (in terms of profits) with the new product.
When asked about developing the model in partnership with Nissan, Mamillapalle said the new product is likely to hit the market in 2025 and will be in the over four meter long vehicle segment. Refusing to give details about the new model, he said, “We are working on four models.” Work is going on fast in this direction. We are trying to expand our dealer network.
On total vehicle sales in India, Mamilapalle said Renault sold a record 84,000 vehicles in the domestic market last year and exported 28,000 vehicles. He said that the company’s Tamil Nadu plant has crossed the historical figure of 1 million vehicles. Renault India has a manufacturing plant at Oragadam near Chennai, Tamil Nadu. Nissan Automotive India Pvt Ltd is also its partner. Renault’s production capacity is around 4.80 lakh units per annum. (including language input)
