Renowned French automobile company Renault is in search of a domestic supplier-based electric vehicle system within India. This strategic move aims to enable them to offer vehicles at more affordable price points, as explained by a senior company representative.
Renault’s approach to Electric Vehicles (EVs) is centered on avoiding substantial costs for customers, a common concern associated with these vehicles. The company’s focus is directed toward the mass market, particularly targeting the middle and upper-middle-class consumer segments.
Venkatram Mamillapalle, CEO and Managing Director of Renault India Operations, shared insights on this strategy during a recent discussion with PTI.
He emphasized the significance of collaborating with local suppliers for EVs to establish a competitive cost of acquisition for buyers. Mamillapalle expressed the intention to begin this endeavor with SUVs, followed by an emphasis on EVs.
He acknowledged that while the EV ecosystem in India is still evolving, Renault aims to prioritize sensible decisions that cater to the mass market. The primary concern is the economic viability of investments, as the impact on customers is a critical consideration.
Mamillapalle projected strong confidence in the inevitable growth of the domestic automobile market, forecasting passenger vehicle sales to reach 3.8-4 million this year. He stressed the importance of developing supportive infrastructure for both the passenger car and truck industries.
Regarding Renault’s substantial investment plan, initially announced in February by the Renault-Nissan Alliance, he confirmed that the plan is well underway for the introduction of six new cars, three from each brand.
