Renault waiting for EV ecosystem to mature before making its entry, says India MD

French auto major Renault is looking for the EV ecosystem in India to mature before getting into the space.

The company also said it is expecting to complete the acquisition of Nissan stake in the Chennai manufacturing plant “very soon.”

Earlier, Renault rolled out the all-new, seven-seater Multi Purpose Vehicle (MPV) Triber at a starting price of Rs 6.29 lakh (ex-showroom).

“We are doing our analysis. We are looking for the whole ecosystem to mature before we put the product in place,” said Venkatram Mamillapalle, Managing Director at Renault India.

“Currently, what Renault India is looking for is the “maturity of the market, the regulation and the ecosystem. All three together,” he added.

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He said that the company is going to be there in multi-powertrain options, including electric, adding, “We will take an appropriate time to announce the launches, and one at a time. ” “CNG and gasoline are already there. So we are talking about other energies. The endeavour to come to that level is very quick,” he said. “We have everything at arm’s length, whether it’s hybrid ethanol or EVs, everything is available with us, so we don’t need to seek technology. It’s in my kitchen. It’s as and when the maturity happens, the market picks up because it’s very important that there is a proper ecosystem for adaptability of a customer,” he said.

“So, we are looking up for the market. We are waiting for the right moment,” Mamillapally said.

He said the launch of all-new Kiger is the beginning of the company’s plans of bringing four products in the next two years.

“But that is not just the end of the story again. It’s a continuation of our lineup which will happen,” he said..

Currently, Renault has three offerings in its India portfolio – the MPV Triber, compact SUV Kiger and hatchback Kwid.

In the April-June quarter of this fiscal. Renault India domestic sales declined 30 per cent at 7,729 units from 10,969 vehicles in the year-ago period.

The company’s market shares currently stands at less than 1 per cent.

Renault has set a target of having a 5 per cent market share in the world’s third-largest car market by sales volume.

He said that more than the market share, the company’s first priority is to utilise the plant capacity that it has, with its partner, Nissan India.

Renault Group in March this year announced signing a Framework Agreement with Nissan for acquiring its 51 per cent stake in Renault Nissan Automotive India Private Ltd (RNAIPL).

On all new Triber, Mamillapalle said, “India remains a cornerstone of Renault’s global strategy, driven by a strong product pipeline, expanding export operations, and a renewed focus on customer satisfaction.”

The new Triber is over 90 per cent localized, underscoring Renault’s long-term commitment to the Indian market, he said.

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