French automaker Renault plans to launch seven models in India by 2030, including battery electric vehicles, as it accelerates its expansion in the world’s third-largest automobile market, the company’s global CEO said on Thursday.
Renault CEO François Provost said the company also aims to make India one of its top three global markets by the end of the decade and capture around 5% market share in the country.
Speaking at an industry event in Chennai, Provost said Renault’s strategy goes beyond domestic growth. “Our ambition goes beyond ‘India for India’ in growth and product,” he said, adding that India will serve as a “technology hub, export hub, and strategic asset on a global scale.”
The company, which currently has no presence in the United States or China, is increasingly relying on India as a key growth engine for future models and international sales.
Renault expects electrified vehicles—including hybrid, electric, and compressed natural gas-powered models—to account for about half of its sales in India by 2030. It also plans to expand its lineup with small cars under four metres in length, targeting the entry-level segment.
The automaker further said India is becoming a major center for engineering and innovation, with plans to generate around €2 billion ($2.36 billion) in exports from the country by 2030.
Global automakers such as Toyota, Suzuki, and SAIC Motor are also expanding their investments in India, betting on rising domestic demand and the country’s growing role as an automotive production hub.
Analysts say India’s expanding middle class and manufacturing capabilities are making it an increasingly important battleground for global carmakers competing in the shift toward electrification and affordable mobility.