Looking at India to be among top 3 global markets for Renault: Group CEO Francois Provost

Chennai, Apr 16 (PTI) French automaker Renault is looking to make India among its top three global markets, for which it will expand its portfolio in the country to seven multi-energy models, by 2030, its global group CEO Francois Provost said on Thursday.

The Renault Group has also set a target of exports, including components, worth 2 billion euros annually by 2030, he told reporters.

"In India, we have great ambition: make it one of Renault brand's top three markets worldwide," Provost said.

To achieve this, he said, "We are entering our largest product renewal cycle in India. We will introduce new vehicles, bringing our portfolio to seven models by 2030." Renault has already launched the new Duster, which received strong interest from customers, Provost said, adding,"We presented the new Bridger concept - - a multi-energy vehicle, with best-in-class efficiency. Our goal is to begin production in India in the second half of next year." Elaborating on reasons for the bullishness on the Indian market, he said the country "represents more than one-third (34 per cent) of the TIV (total industry volume) growth in the markets where Renault Group operates. It is one of the fastest growing automotive markets." Stating that India has a key role to play in Renault's "futuREady" plan, Provost said, "In an unpredictable and highly competitive environment, this plan is designed to ensure that Renault Group can perform, whatever comes next Renault's futuREady plan is "built on four pillars: "growth-ready", "tech-ready", "excellence-ready" and "trustready". And on each of these four pillars, India has a key role to play", he added.

He further said,"With futuREady, we are competing in a market of around 50 million vehicles per year, which is more than half of the global market (55 per cent)."

Noting that Renault Group wants to integrate India more deeply into its global value chain, especially through vehicle and component exports, Provost said, "Our objective is to reach 2 billion euro annually in exports by 2030."

Under the "futuREady" plan, he said Renault plans to launch 36 models "to consolidate our leadership in Europe and accelerate in selected high-growth markets such as South America and, of course, India."

Outside Europe, he said, "For the Renault brand, we are targeting 50 per cent electrified sales by 2030, driven by our E-Tech full hybrid technology." Renault Group India CEO Stephane Deblaise said E-tech solutions, including strong hybrid, and full electric, even super hybrid and e4WD (electric 4-wheeler drive) are being explored.

"E-Tech transition will expand progressively across the range from 2026 onwards. Bridger will be a key part of that journey. And, a few months after the Bridger launch, it will evolve into Renault Group's first fully electric vehicle in India," he added.

The company showcased the Bridger Concept, a new B-segment compact SUV, with multi-energy options, including an electric version here.

It, however, did not share the timeline for the launch of the model