Nissan and Renault's plans to launch four new products in India are part of their strategy to expand their product portfolio and strengthen their presence in the Indian market. The Renault Nissan Alliance has invested USD 1.8 billion in India so far, with the Chennai plant playing a crucial role in manufacturing. The facility currently operates in two shifts and produces 480 cars per day. The Chennai plant alone produces 2.7 million cars per year, with 1.2 million of them being shipped to over 100 countries. This move is aimed at meeting the growing demand for Nissan and Renault vehicles in India [f8823eaa].
In addition to their plans for India, Nissan and Renault are also focused on their global strategy. Nissan has unveiled its medium-term business plan, 'The Arc', which aims to debut 30 new models by 2027. The plan includes a strong emphasis on electrified vehicles, with 16 of the new models being electrified, half of which will be battery-electric powered. Nissan aims for electric vehicles (EVs) to account for around 20% of its global sales within the next three years, and it plans for electrified models to make up 60% of its global sales by the end of the decade. The company also intends to reduce the cost of EV production by 30% by the end of the decade. Nissan has specific plans for different regions, including increasing sales in the Americas, launching new-energy vehicles in China, achieving a high level of electrification in Japan, and increasing sales in Africa, Europe, India, the Middle East, and Oceania. The company also aims to accelerate the development of vehicle intelligence technologies and enhance battery technology [55885a7b].
Meanwhile, Mitsubishi Motors is set to join an alliance between Honda Motor and Nissan Motor, creating a tie-up between automakers with combined sales of more than 8 million vehicles. Mitsubishi Motors, which is 34% owned by Nissan, will work with Honda and Nissan to finalize the details of their strategic partnership. This collaboration comes as Nissan, Japan's third-largest automaker, has been losing market share in its two largest markets, the United States and China. In March, Nissan and Honda announced that they were considering a strategic partnership to collaborate on producing electric vehicle components and artificial intelligence in automotive software platforms. Mitsubishi Motors is already part of a long-standing alliance with Nissan and France's Renault, and the three automakers agreed to restructure their partnership last year. The collaboration between Nissan, Honda, and Mitsubishi Motors could help Japan's automakers cut costs and strengthen their position in the competitive electric vehicle market, which is currently dominated by companies like China's BYD and Tesla [8d622f46].