New Renault Kwid EV Could Be Made In India
According to multiple sources, we could see a Renault Kwid EV version manufactured and sold in India as Renault is evaluating the feasibility of constructing a mass-market electric vehicle locally. The automaker’s effort to enter this market – where EV adoption is expected to skyrocket from its current low levels – marks an aggressive move forward.
What You Need to Know About Renault EV Plans for India
The Renault feasibility study highlights the car manufacturer’s commitment to electric vehicle production, even as discussions with Nissan Motor about investing in a new EV segment remain unresolved. Clearly, this shows that Renault is determined to move forward and invest in its planned operations for electrification and a Renault Kwid EV is high on the list.
This shift in perception of the auto market in India reflects its incredible growth, having become the fastest-growing major car market in 2022. While EVs only made up a tiny fraction of car sales last year, India’s government has set an ambitious goal to reach 30% of sales for electric cars by 2030. To help make this possible they have managed to entice international suppliers and manufacturers with generous subsidies – paving the way for greater EV adoption nationwide.
In order to evaluate the potential demand, pricing, and feasibility of constructing the Renault Kwid EV and other electric vehicles with local parts, a review will be conducted. According to one source close to the project, we shouldn’t expect a launch before late 2024.
India Is An Expanding Market For Electric Vehicles
One company representative said Renault’s recent shift is a part of an overarching plan to reignite sales in the country, where the carmaker is still earning profit despite selling fewer cars compared to the previous year.
Renault India, though declining to comment on any specific product plans, did emphasize the strong focus they have placed on global electrification as part of CEO Luca de Meo’s strategy. They added that “India is one of the key markets” for their group.
India is on course to overtake Japan and become the third-largest market for passenger vehicles worldwide, according to a prediction from S&P Global Mobility. Vehicle sales grew by an impressive 23% compared to previous years, reaching 4.4 million in 2022 and we can expect even more with the locally-made Renault Kwid EV!
In stark contrast, the market in the United States is projected to remain below 2019 numbers into next year and China’s demand has been dwindling.
Global Restructuring Of The Alliance
Although Renault was eager to reach an agreement with Nissan by December about making space for its EV unit, negotiations have been delayed due to Nissan’s concerns over safeguarding its intellectual property.
One source confirmed that: “India will play an important role in future projects of Renault-Nissan but local plans will not be finalised before a global deal on a restructuring of the alliance is reached.”
India has become an increasingly attractive market for electric vehicle companies, with domestic powerhouse Tata Motors leading the pack as well as international brands such as Stellantis, Hyundai Motor, and SAIC’s MG Motor all scheduling EV launches.
The Success Of The Renault Kwid EV
The Renault Kwid EV, known as the City K-ZE in China and Dacia Spring in France, has been highly popular. In France, it’s the second highest-selling EV with a range of 230 kilometres and a starting price of 20,800 euros (R387,660) before government subsidies.
In order to qualify for incentives offered by India, Renault must construct the car at its partner facility located in southern India and acquire components locally. This plant is mainly owned by Nissan who declined to comment at the time.
Despite a 9% sales reduction in 2022 to around 87,000 units and dropping its market share below 2%, Renault remains a leading brand with the popular Kwid hatchback, Kiger SUV and seven-seater Triber all produced in India.
With the goal of revitalising the Indian market, Renault wants to refurbish and enhance some of its biggest dealerships in major cities. There are 500 sales outlets across the country that will benefit from these improvements; even more so once the Renault Kwid EV goes to market!
Whether or not South Africa will get the Renault Kwid EV remains unknown but at least you can buy a new or used Renault Kwid at Group1 in Johannesburg and Stellenbosch.
