[ad_1]
Chennai : Car maker Renault-Nissan jointly announced a fresh investment of `5,300 crore in the country, expanding its business in India. Both these carmakers will soon introduce six new vehicles including two new fully electric vehicles (EVs) for the domestic and international markets. According to media reports, this investment amount will also be used to upgrade the Renault-Nissan factory in Chennai into an international export hub.
Renault and Nissan will present three vehicles each
Renault and Nissan will each introduce three new vehicles, which will be engineered and manufactured on common alliance platforms in Chennai while retaining the individual, distinctive styling of the respective brands. These will include four new C-segment SUVs. The two new A-Segment cars will be the first EVs for both Renault and Nissan in India, building on both brands’ own expertise in mass-market electrification that began a decade ago with the Nissan LEAF and Renault Zoe .
SUV and EV vehicles will be manufactured
The strategy is to focus on manufacturing high quality SUVs and EVs for the local market. Nissan Motor Company Representative Executive Officer and COO Ashwani Gupta said that Nissan’s strength lies in SUVs and more than 70 per cent of the company’s global sales come from this segment. Magnite is a classic example in India and where we are missing out in the A and C segment today. Gupta said that we will double our market coverage there. With an eye on the export markets, the alliance will develop the left-hand drive Magnite.
RNAIPL Nissan’s 51% stake
Renault and Nissan are reorganizing their stake in their joint operation as part of their renewed commitment to the Indian market. Nissan will hold 51 per cent equity in Renault Nissan Automotive India (RNAIPL), while Renault will hold 49 per cent. Renault Nissan Technology Business Center (RNTBCI) will be owned 51 per cent by Renault and 49 per cent by Nissan.
EV vehicles to be launched by 2025
Gupta told mediapersons that the new phase would see higher capacity utilization and EVs starting from 2025. At present, we have no plans to set up a new plant, as we have an excellent factory. He said that definitely this site needs modernisation, as we are going for electrification of the products.
signing of MoU
An MoU on new investment commitments was signed in the presence of Tamil Nadu Chief Minister MK Stalin on Monday. In a new long-term strategy, the alliance is targeting higher production and R&D activity. It will launch EVs and transition to carbon-neutral manufacturing. The additional R&D activity will create 2,000 new jobs adding to the current workforce of 15,000.
Electric cars will be the only competitors
On EV products, Gupta said that we believe that electric cars will be the only competitors. If we are able to manage the vertical integration of the entire supply chain. This is what we do in Japan, Europe, America and China. These are the markets where we launched the electric car in 2010. In Japan, we own battery plants, powertrain and vehicle manufacturing plants and all other associated software. According to him, by 2030, Nissan will have around 44 per cent of its product mix in the form of EV cars globally.
[ad_2]
Source link