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Investing.com -- Renault (EPA:RENA) plans to add more SUVs to its small car lineup in India as part of its strategy to increase factory utilization and rebuild market share in the world’s third-largest car market.
The French automaker will invest $600 million to grow both domestic sales and exports from India after taking over alliance partner Nissan (OTC:NSANY) Motor’s share in their jointly-owned manufacturing plant, according to Venkatram Mamillapalle, Renault India’s managing director.
"We are going to go offensive on the product launches moving forward," Mamillapalle said in an interview.
Renault will introduce compact and mid-sized SUVs to the Indian market, where it currently sells three models - the small car Kwid, small SUV Kiger, and the small seven-seater Triber, which is its best-selling model in India.
The expansion comes as Renault seeks to strengthen its position in the competitive Indian automotive sector after acquiring Nissan’s stake in their shared production facility.
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