After Years Of JVs, Renault Doesn't Need India Partner Anymore
The company, which has a manufacturing presence in India for 15 years, had first partnered with Mahindra & Mahindra and then with Japanese carmaker Nissan Motor.
French automaker Renault SA, which has historically done business in India through joint ventures, is no longer planning on partnerships for its India business.
"We are not looking for any partners for India business at this point of time," Venkatram Mamillapalle, Renault's managing director for India, told NDTV Profit on Wednesday on the sidelines of its first car launch in five years.
"We have the design studio, engineering, manufacturing and 350 commercial touch points. I don't need a partner," he explained, when asked about reports of a potential tie-up with Sajjan Jindal's JSW Group. "I have already said the reports on the JSW tie-up were fake news."
Renault, which has a manufacturing presence in India for 15 years now, has typically operated through joint ventures in the country. The company had first partnered with Mahindra & Mahindra Ltd. and then with Japanese carmaker Nissan Motor Co.
The company is still Nissan’s largest shareholder with a 36% stake and had announced the acquisition of Nissan's holding in their co-owned Chennai factory. This was part of a broader agreement between Renault and Nissan to reduce their cross-ownership to 10% from 15%.
Refuting reports of potential new partners in India, Venkatram also said that now that Renault Group has a presence in India with a new CEO, it motivates them to succeed and perform.
Renault Group announced the appointment of Stephane Deblaise as chief executive officer of Renault Group in India, effective Sept. 1, 2025. In this role, he will be responsible for defining and executing the Group's strategy in India. All Renault Group entities in the country will report to him.
The brand further explained that he will report directly to Francois Provost, Renault Group Chief of Procurement, Partnerships, and Public Affairs Officer.
Venkatram will be supporting Stephane Deblaise on corporate affairs in India to help structure the group's mid-term growth strategy in the region.
India, the world's third largest car market by volumes, has always proven to be a tough nut to crack for most global carmakers. Renault was on a path to establish its presence through affordable models like Kwid and Triber multi-purpose vehicle, before the French parent was hit by operational difficulties and financial woes.
