Tuesday, February 14, 2023

Nissan-Renault will invest Rs 5,000 crore in India

Nissan-Renault set to invest Rs 5k crore in India


Delhi, India: Along with French alliance partner Renault, Japanese automaker Nissan will invest Rs 5,300 core in India to drive four brand-new SUVs and two small electric vehicles. After not much success so far, the businesses are trying again to get into business in India.

According to Ashwani Gupta, the chief operating officer of Nissan, the country of India is a crucial automobile market, and the companies will look for novel products and highly localized manufacturing in order to not only target customers in the country but also export regions. Beginning in 2025, we will launch our new products, with subsequent launches following. We will also create 2,000 jobs in India as a result of the exercise.

Gupta, who is also on the board of the Renault-Nissan Alliance, said that pure electric vehicles are expected to play a big role in India's journey toward sustainable mobility. As a result, the alliance won't try to promote hybrids or other green technologies that are in the middle. Instead, it will focus on small battery-electric vehicles.

“I do believe that battery electrics will be a key strategic pillar for India's electrification growth, rather than hybrids, because government policies support them. He continued, "Nissan will wait to bring the technologies for hybrids and e-power to India." He added that the company anticipates that by 2030, electric vehicles will account for 13% of all passenger vehicle sales in India, up from 0% currently. 5% in 2022.

Gupta also stated that the planned SUVs will be ICE (internal combustion engine) or petrol/diesel vehicles; however, the platforms will be able to incorporate hybrids and electric vehicles if necessary. Despite the Magnite entry-level SUV's limited success in India, Nissan has generally failed to score well, with a 0% market share. 8% in the domestic market between April and December 2022 and 2023. In a market where 28 units were sold, the company sold 25,364 of them. 75,000 units were sold in the first three quarters of FY23. With a share of 2, Renault has done relatively better. 2% over the same time period, on a total of 63,913 units.

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