French Renault wants to establish a manufacturing hub for EV parts in India in order to export to its other markets. A first manufacturing deal exists already as local Rico Auto Industries is to make EV components and transmissions.
It will be mainly electric motors and said transmissions that will be made in India but Renault plans to establish a manufacturing hub for EV components in the country in the long term. Export markets will be Europe, the USA and potentially China. A global tender was won by Rico Auto Industries with other suppliers in on the game too but as of yet unnamed.
Mint quotes sources close to the matter saying the local unit of the French car maker based in Chennai is also working on developing entire EVs for the global market.
It would not be the first time that Renault is turning to emerging markets both for exports and domestic sales as well. A so-called Kei-car, in fact the EV version of the electric and very compact Kwid SUV, is in the making in China but the model may find its way onto the markets in India, Brazil, and the Middle East. In China, the electric compact can be expected by next year or latest by 2019 at a price point of 11,500 euros (we reported).