This is the Chinese carmaker's second major market entry in recent times after Russia, increasing its global presence to about 60 nations. The company looks to establish two brands in India – Haval and GWM EV. While the former will cater to all types of SUVs, the EV brand will house non-SUV electric vehicles.
The Korean carmaker also showcased a concept of its third car in the country.
The company also showcased its upcoming flagship SUV Gravitas, which is a 7-seater variant of the Harrier. A close-to-production version of the HBX micro-SUV was also shown
Renault India will be launching a new vehicle segment this year, followed by a mass-market electric vehicle in the next couple of years, the company said at the Auto Expo on Wednesday.
The local unit of the Korean automaker, which in the past year has entered the sub-4 metre SUV space with the Venue, will now reinforce its mid-size SUV segment with the new Tucson and the all-new Creta this calendar year. Both these will be showcased at the Auto Expo in Greater Noida in the coming days.
Users will have to pay only for using the charge on the batteries and then swap them after they are discharged, similar to paying for fuel in conventional vehicles, Motwani said.
Maier said the group is open to partnerships with peers if they are “mutually beneficial” even as it gears up for a more aggressive play in India backed by a billion-euro investment.
The funds will be utilised in increasing manufacturing capacity as the company looks to sell more than 2,50,000 units of its electric rickshaws in the next four years, founder and chief executive Sulajja Firodia Motwani said. The funding should be secured within the next two-three months, she added.
The group will also unveil its biggest line up for the Indian market at the Auto Expo 2020, preceded by the group night on Monday, where five brands — Volkswagen, Skoda, Audi, Porsche and Lamborghini — will showcase their individual important models for coming years.
Earnings before interest, tax, depreciation, and amortisation (ebitda) stood at Rs 354.4 crore, a year-on-year growth of 3.3%.
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