In order to reduce the cost of their EVs in India, Renault is looking for a local supplier-based electric vehicle system in India.
Renault feels that customers should not be burdened with the high cost of EVs and aims to reduce the costs that come with an EV. Thus, to eradicate this problem, the company is working on finding a local supplier-based electric vehicle system. Renault’s main focus in India is on the mass market, catering to middle and upper-middle-class customers.
Venkatram Mamillapalle, CEO & MD of Renault India Operations, feels the need for many local suppliers for EVs as the company wants to go for a local supplier-based system. He wants the cost of acquisition for a buyer to be less than what it is now. The company plans to focus more on the SUVs market and then on the EVs as the EV ecosystem in India isn’t completely matured according to them.
The CEO of the company is confident about the growth of the domestic automobile market, with expected sales of 3.8-4 million this year. The Renault-Nissan Alliance recently announced their 5,300 Crore Rupees investment in India, resulting in six new cars, three each for the companies this year.
