"Renault Announces €3 Billion Investment and 8 New Models for Global Expansion"

Renault, the renowned French automotive giant, unveiled its ambitious plans on Wednesday, earmarking a substantial investment of approximately €3 billion ($3.2 billion) for expansion as part of its International Game Plan for 2027. This comprehensive initiative extends the company's reach far beyond Europe, including into burgeoning markets like India. According to the roadmap, by 2027, Renault envisions that one in every three cars sold outside of Europe will be either hybrid or electric.

Renault's global footprint is already substantial, with over 40 percent of its sales originating from outside Europe. The company maintains manufacturing facilities in diverse regions, including Latin America (LatAm), North Africa, Turkey, India, and South Korea.

Fabrice Cambolive, the Chief Executive Officer (CEO) of Renault Brand, shared the company's vision, stating, "We have redesigned our footprint and bolstered our competitiveness. Approximately €3 billion will be expended as part of the International Game Plan for 2027, and eight Renault brand models will be produced and introduced outside Europe by 2027. This includes five C- and D-segment cars and two light commercial vehicles."

Cambolive, who assumed the role of CEO in February 2023, had previously served as the Renault brand's Chief Operating Officer since May 2022. He emphasized the company's commitment to electrification, aiming for one in every three Renault cars sold outside Europe to be hybrid or electric.

The company also unveiled its new compact sport utility vehicle (SUV), named "Kardian," with a strategic focus on emerging markets (EMs). Kardian is expected to become Renault's smallest SUV in several EMs, especially in regions where the Kiger model is not available.

Earlier this year, Renault announced its plans to manufacture a C-SUV in India, and Kardian is anticipated to be a part of that broader long-term roadmap.

Bruno Vanel, Vice President of Product Performance at Renault Brand, elaborated on the company's strategy, explaining, "The 2027 plan is based on two platforms: one is the Renault Group modular platform for LatAm, Turkey, India, and North Africa, and another is the modular architectural platform for South Korea. Kardian is the first of the eight models to be launched on a modular platform."

This expansion comes as Renault intensifies its focus on the Indian market. Having reached the milestone of producing 1 million vehicles in India earlier this year, Renault has set an ambitious target of reaching 2 million by 2030, driven by new launches and a planned electric vehicle (EV) venture.

Renault India is currently in the process of developing a range of new models, including two internal combustion engine products and an A-segment EV. These new vehicles are slated to commence production in 2025.

In the Indian market, Renault currently offers three models: the Kwid, Kiger, and the Triber. The company exports to 14 countries and regions, including South Africa, the South Asian Association for Regional Cooperation, and the Asia Pacific. Renault's manufacturing facility near Chennai in Oragadam boasts an annual production capacity of 480,000 units.

Renault's strategic partner, Nissan Motor Corporation, and Renault SA, who recently restructured their global alliance in February, have outlined plans to invest Rs. 5,300 crore in India to launch six models, including two EVs. This significant investment is expected to generate employment for 2,000 people. Both companies have committed to producing three new models each on joint platforms while preserving the distinctive styling of their respective brands.

South Africa remains Renault's primary export destination, with the majority of the company's export business directed there. In 2022, Renault produced approximately 84,000 vehicles and exported 28,000, with similar numbers expected in 2023. The company prides itself on a high level of local manufacturing, with approximately 92 percent of the process completed locally.

This forward-looking plan underscores Renault's determination to strengthen its global presence and reinforce its commitment to innovation and sustainable transportation solutions.

BS