Renault aims to launch new model every year

By: |
Ahmedabad | Published: August 18, 2018 3:00:41 AM

Renault India is aiming to launch a new model every year as part of its portfolio development plan.

Renault aims to launch new model every year (Reuters)

Renault India is aiming to launch a new model every year as part of its portfolio development plan. The company launched the new Kwid 2018 Feature Loaded range here on Friday.

“We are in portfolio development mode and under this we are targeting to launch a new model of car every year. This will be the segments where we are not present or it will be a new sub-segment,” said Sumit Sawhney, Renault India Operations CEO and managing director.

The company wants to focus on the domestic market for now and has no plan to increase its exports in the near future. It sold 1 lakh cars in the last financial year.

“We are doing well in domestic front and the way Indian market is growing, we want to stay more focussed on it. The company is exporting to the neighbouring countries like Bangladesh and Nepal. Our export share in total sales is in single digit,” Sawhney said.

According to the company, it will think about electric car for India once the government comes up with concrete policy for electric vehicles.

“Indian government is working on policy for electric vehicle and we will form up our strategy of electric car base on the policy. We can see potential for electric car in India and we have technology available for it with us. There are some other aspects that needs to be evaluate first, like price of lithium battery, long range and down time technology for charging,” he said.

Renault India has manufacturing facility in Oragadam at Chennai with a installed capacity of 480,000 units per annum and utilisation is about 50%. Since its entry in 2011, the company has so far introduced three models — Duster (SUV), Kwid (hatchback) and Lodgy (MUV). Renault also has a global innovation centre and a design centre each in Chennai and Mumbai.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Air Deccan to launch flight services to Ahmedabad from Nashik
2This nifty Gmail feature lets you send ‘secret’ emails: How to get started – All you need to know
3Will your digital payments become even safer and cheaper? RBI governor calls for reasonableness in charges