Renault is considering creating mass-market EVs in India, sources state

Renault is reportedly exploring mass-market EVs in India

January 10, 2023: -Renault is also building mass-market electric cars in India, two people with knowledge of the continuing review told Reuters, as part of a people push into a market where EV adoption is anticipated to increase from a small base.

The study by Renault underscores the way the French automaker pushes ahead with electrification plans even as it extends complicated negotiations with its partner Nissan Motor regarding investing in an EV unit it is planning to carve out from its different operations.

It points to the shifting perception of the auto market in India, which posted increasing growth of significant demand in 2022. EVs were on track to below 1% of car sales in the previous year. Still, the country has set a target of 30% by 2030 and has had the latest success, which attracts suppliers for international automakers with a range of subsidies.

Renault is studying which launch a made-in-India electric version of its Kwid hatchback; the people said that Reuters.

The review assesses potential demand, which prices and the ability to build the EV with the components, stated one of the people, adding that any launch would be late in 2024.

The person articulated that the move is also a part of a broader idea by Renault to rekindle sales in that the carmaker remains profitable despite which sells fewer cars in 2022.

Still, it said the firm has a “strong focus on electrification” as part of the strategy by CEO Luca de Meo and that “India is one of the prime markets” for the firm.

India is set to become the third-largest market in the world for passenger and different light vehicles, which displaces Japan, according to a forecast by S&P Global Mobility. Industry-wide sales grew nearly 23% to 4.4 million cars in 2022.

That contrasts the view for the United States, where the market is anticipated to remain less than 2019 levels coming year, and China, where demand is weakening.

In December, Renault had hoped to reach with Nissan on the terms of a carve-out for its EV unit. Still, discussions have been slowed over concerns by the Japanese carmaker on various issues, including protecting its intellectual property.

About Us

We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.

Recent Posts

Embedded Insurance Specialist | Scott Walchek

Trōv is a global leader in embedded insurance, powering the future of digital insurance distribution and emerging mobility. Its robust insurtech platform empowers financial institutions and insurance incumbents to easily embed insurance products within other digital experiences to increase recurring revenue.

Keeping American Families Safe | Martin Burlingame

While only one in ten homes throughout the United States has flood insurance coverage, floods are the country’s most common and deadli-est natural disaster. Since 2000, they have cost American taxpayers $850 billion, two-thirds of the total cost of all natural disasters, yet only 1 out of 10 homes are insured for flood, and that number could soon be reduced.

Working with Gold Standards | Lori Murphy

Insurance needs to be more precise as there are solutions that protect the assets owned by the Property Managers (apartment units) and solutions that protect the Residents and their personal belongings. Which programs to offer and buy depends on each unique client’s needs.

Renault is considering creating mass-market EVs in India, sources state