Renault SA has placed orders for manufacturing electric motors and transmission parts for its electric vehicles with one Indian automotive component manufacturer.
Renault is also planning to make India a manufacturing hub for electric vehicle components in the long term, including vehicles for its global market.
This is the first time any global vehicle maker with business in India has given an order to an Indian company for making parts of EV which will be exported to the American and European countries and also possibly to China.
One of the companies that got the contract through a global tender process is Rico Auto Industries Ltd, a Gurugram based two-wheeler and four-wheeler parts maker. The names of the other auto parts maker could not be ascertained.
Renault is one of the leading vehicle manufacturers in the domain of EVs globally and has already invested heavily in electric mobility.