- Renault’s Luca de Meo stressed the importance of the decision
- The French automaker will soon hold “transparent” talks with the two companies
- De Meo said that the relationship between the three companies is “very good”
French automaker Renault is moving ahead with its electric vehicle (EV) plans even without the support of Nissan Motor Co. and Mitsubishi Motors Corp, Renault’s alliance partners. Speaking to Bloomberg Television, the CEO of Renault Group Luca de Meo said, “They know that we have to do it and that we will do it.”
While De Meo acknowledged that it’s ultimately Nissan and Mitsubishi’s decision to get on board the idea, he claimed the “train is leaving the station.” Renault’s plan to split its ICE and EV portfolio comes on the back of subpar financial performance over the past couple of years. Bloomberg reports that the proposal is building momentum, with the French automaker reportedly holding talks with local unions.
However, de Meo said that more details will only be available following “transparent” talks with Nissan and Mitsubishi. The Renault chief executive clarified that the relationship between the two companies continues to be “very good.” So while the plan to go ahead on its own may seem aggressive, de Meo has quelled any notion of a rift between Renault and the Japanese manufacturers.
EV Wars Heating Up In India
While Renault’s EVs are unlikely to reach India anytime in the near future, the market has welcomed multiple new additions over the past few months. Manufacturers like Mahindra have a bunch of EVs lined up for the Indian market over the next few years, with the first likely arriving later this year.
We’ve also learned that Hyundai wants to launch at least six EVs in India by 2028 and spend USD 512 million to make it happen. Volvo took the wraps off its XC40 Recharge EV in July, while Tata unveiled a slightly modified Nexon EV Prime. Manufacturers like Maruti Suzuki are only now beginning to launch hybrids, while an EV may not arrive from the company until 2025, as per the manufacturer’s estimates.