Renault Sets Ambition on Indian Market with 'futuREady' Plan

French automaker Renault plans to make India a top market by 2030, expanding its portfolio to seven models. Renault aims for a 5% market share in India's passenger vehicle market and targets 2 billion euros in annual exports of components and technology from India, focusing on strong localization.

French automaker Renault has unveiled its ambition to place India among its top three global markets by 2030. To achieve this, the company aims to expand its portfolio in the country to include seven multi-energy models, according to global group CEO Francois Provost.

Renault has set a goal to export components and technology worth 2 billion euros annually from India by 2030, targeting a future market share of 5% in the Indian passenger vehicle market. The company emphasizes a strategy of 'India for India', avoiding exports between India and Europe.

The company's futuREady plan, reliant on four pillars of growth, technology, excellence, and trust, involves launching 36 models to bolster its standing in Europe and increase its presence in high-growth regions like South America and India.

(With inputs from agencies.)