New Delhi: Renault, the French carmaker, on Wednesday announced plans to invest 3 billion euros as part of its global strategy through 2027, with a significant focus on India as a key market outside Europe.
The company is introducing a new modular platform tailored for regions including India, Latin America, North Africa, and Turkey. This platform, designed for adaptability, will feature customizations ranging from varied vehicle sizes to a diverse array of energy sources, such as E100 flex fuel, advanced 48V mild hybrid, and full hybrid systems. Renault aims to assemble this platform locally in several hubs, including India.
Renault currently holds a near 1.5% market share in the Indian passenger vehicle industry.
With India India a key destinations for Renault’s global expansion efforts, the company’s strategic shift aims to double its net revenue per unit sold outside Europe by 2027 from 2019 levels. Renault is committed to delivering sustainable and innovative vehicles that cater to regional customer preferences.
Renault’s Kardian, a B-segment compact SUV, built is set for debut in Latin America and Morocco. Additionally, the Niagara Concept, a pickup powered by its E-Tech hybrid technology, showcases the platform’s potential for an electric vehicle-dominant universe. It also complies with the latest-generation electric and electronic architectures, meeting current and future regulations, Renault said.
By 2027, Renault is aiming for one-third of its total sales to be electric vehicles.
To strengthen its global presence, Renault is introducing the Compact Modular Architecture (CMA) platform, created in partnership with Geely Holding Group. This platform is aimed at high-end D and E-segment models, offering both two-wheel and four-wheel drive options, often equipped with hybrid powertrains.
As part of Renault’s 2027 International Game Plan, the company has set ambitious goals to cut emissions and roll out electric or hybrid models in multiple overseas markets by 2027. Several nations, including Brazil and Turkey, have already begun this transition with models such as the Megane E-Tech electric.
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Updated: 26 Oct 2023, 09:39 AM IST