Renault India is making significant strides towards introducing electric vehicles (EVs) under the Rs 10 lakh price range, aiming for a market launch within the next 12 to 24 months. The company has committed a substantial investment of Rs 5300 crore in partnership with Nissan Motor in India to achieve this ambitious goal.

Renault’s planned compact EV will compete with Tata Motors’ Tiago EV and MG Motor’s Comet. This electric vehicle is based on the Dacia Spring, which is based on the popular Kwid. The Dacia Spring is powered by a single electric motor that produces 45 Bhp and 125 Nm of torque and is paired with a 26.8 kWh lithium-ion battery that provides a range of 225 Km (WLTP). In comparison, the Tiago EV is available in two models: Medium Range (MR) and Long Range (LR).

The former is powered by a 61hp, 110Nm electric motor and a 19.2kWh battery, with a range of up to 250km (MIDC). The Long Range model has a 75 Bhp-114 Nm electric motor and a 24 kWh battery, giving it a range of up to 315 Km (MIDC).

An executive at Renault said that the business plans to produce an adapted version of the new Dacia Spring in the Indian market in 2024. Renault India’s Managing Director, Venkatram Mamillapalle, stated that the business has plans for 6-9 product interventions in the next years. In 2024, mid-cycle upgrades to the existing lineup will be introduced, followed by the introduction of B category SUVs and new versions of existing models.

Our EV ideas are moving forward; the EV we’re looking into for India is built on the CMF-A platform. It could make its debut in 2024 or 2025. We are dedicated to introducing it as soon as possible, albeit the exact date has yet to be determined. Our platforms will eventually support petrol, e20, and electric vehicles.

According to preliminary estimates, these EVs will incorporate 55-60% local components. Nonetheless, Renault is working to source batteries and cells locally in order to reduce prices and encourage wider EV usage in the future.

Despite Renault India’s primary concentration on the sub-10 lakh market segment, the brand saw a slump in the entry-level segment. While the auto market expanded by more than 25% in FY-23, Renault India’s sales fell by 10-15%, with 78,000 units sold. Mamillapalle honestly revealed that sales may drop by more than 10% this year. The company anticipates exporting around 20,000 units during the current fiscal year, which will contribute to better plant capacity utilisation.

Renault is using new techniques like as mobile showrooms to increase consumer engagement in locations where there is no retail presence. Mamillapalle predicts that monthly sales would increase from 4,500 to 6,000 pieces, thanks to a redesigned retail strategy and increased marketing activities.

Recognising the need for a portfolio refresh, Renault is proposing mid-cycle enhancements for models such as the Kwid, Triber, and Kiger, which will include significant design modifications. Furthermore, the corporation is emphasising safety, with plans to offer six airbags as an option for older models ahead of government rules. While the precise implementation date has yet to be determined, Mamillapalle ensures that Renault vehicles will be equipped with this upgraded safety technology before the ministry’s deadline.