Mr. Venkatram Mamillapalle, Country Managing Director & Chief Operating Officer, Renault India.
The plan to launch six new products, including two electric vehicles under the Franco-Japanese auto alliance Renault Nissan, with a total investment of Rs 5,300 crore, has been progressing and is on schedule, a top official of French automaker Renault India said on Wednesday.
Renault-Nissan, in February 2023, had announced investments of $600 million (around Rs 5,300 crore) in India, to bring in six new products, including two electric cars, and a modernisation of its Chennai plant.
Venkatram Mamillapalle, CEO and managing director of Renault India, said at an event on Wednesday that 70-80 per cent of the total committed investments have been invested so far.
“We have announced investments worth Rs 5,300 crore to introduce six new products. The project is going on schedule. We will inform you soon about the launch of the new models,” he said.
Mamillapalle spoke to reporters after introducing a new range of ‘Night and Day Limited Edition’ variants in its product portfolio in India.
Renault India currently markets three models in India: the small Kwid, the premium hatchback Kiger and the multi-purpose vehicle Triber. The vehicles are produced at Renault-Nissan Automotive India Pvt Ltd’s manufacturing plant in Oragadam, located about 45 km from here.
Responding to a query, he said, “We have already started investing and we are fulfilling our commitment to the Tamil Nadu government. We are trying to implement innovation.”
However, he declined to comment on the timeline in which the new products would be launched.
Regarding the launch of the limited edition models today, Mamillapalle said the new variants will be limited to 1,600 units and will be available to customers on a “first come, first served” basis.
“If the response (from customers) is good, we will have good volume on this,” he said.
According to company officials, the Night and Day limited edition of the Triber would cost over Rs 20,000 more than the manual RXL variant at Rs 7 lakh (ex-showroom), the premium Kiger hatchback at Rs 6,74,990 with an additional cost of Rs 15,000 while the Night and Day limited edition of the Kwid small car equipped with a host of features, would sell at the current asking price of Rs 4,99,500 (ex-showroom) without any additional cost.
The south has been the largest market for Renault India, with Tamil Nadu and Kerala driving the bulk of the carmaker’s sales volume. “The response from Kerala to the limited edition Night and Day has been encouraging,” he said.
The new models are equipped with a host of features such as pearl white dual-tone body and black roof, 9-inch touchscreen, piano black wheel covers, piano black grille, black nameplate, among others.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 18, 2024 | 21:01 IS
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