Renault, the French carmaker, plans to introduce three new models in India, including an electric vehicle (EV), within the next few years.
The company aims to enter the EV segment with aggressive positioning and expand into larger vehicle segments.
The first of the new models is expected to be released in 2025, according to Venkatram Mamillapalle, Country CEO and Managing Director of Renault India Operations.
Renault and Nissan have jointly invested $600 million in India for the development of new models, including EVs, as well as research and development (R and D).
The car manufacturing plant, shared by Renault and Nissan, is located in India and has a production capacity of approximately 4.72 lakh vehicles per year.
Renault India achieved a production milestone of 10,00,000 vehicles, and the upcoming models are expected to drive the company towards profitability.
The proposed models will have higher technology and local content, with about 95% local components in the current models.
The distribution network of Renault India is being expanded from the existing 450-plus outlets.
Renault India currently offers three passenger vehicle models - Kwid, Kiger, and Triber - and exports to multiple countries across different regions.