Renault's Ambitious Drive in India's Auto Market

French car manufacturer Renault is gearing up to make India one of its key global players by 2030, with plans to introduce seven models, including electric vehicles, to the market. This strategy aims to bolster Renault's presence in India's rapidly expanding automotive industry, Renault's global CEO Francois Provost announced on Thursday at an event in Chennai.

Renault, currently absent from the U.S. and Chinese markets, is placing strong emphasis on India as an integral part of its global expansion strategy. Provost highlighted that Renault envisions India not only as a growth point but as a technology and export hub contributing significantly on a global scale.

As Renault bets on the growing shift towards electric vehicles, Provost noted that by 2030, half of the company's Indian sales will be electric vehicles. The automaker's strategy includes launching cars powered by hybrid, electric, and compressed natural gas technologies, along with small-sized entries to capture the entry-level market. Renault estimates generating €2 billion from Indian exports by the decade's end.

(With inputs from agencies.)