India set to become EV components hub for Renault

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Contract for manufacturing electric motors and transmission parts for Renault’s electric vehicles has been given to one Indian automotive component manufacturer by the auto major.

Renault, EV, electric vehicle, components, India
Image for representational purpose only

Going ahead Renault plans to make India a manufacturing hub for electric vehicle (EV) components since the cost is less and the Union government is expected to give exemptions and subsidies for manufacturing parts of these vehicles which requires a different ecosystem under the second avatar of the FAME scheme

Livemint reported that Renault’s R&D centre in Chennai is a part of the car maker’s global plan for developing EVs and work has already been started by the company.

This contract marks the first move by a global vehicle maker with operations in India handing over charge to an Indian company for making parts of EV which will be exported to the European and American countries and possibly to China. One of the companies that got the contract through a global tender process is Rico Auto Industries Ltd, a Gurugram based two-wheeler and four-wheeler parts maker.

Earlier it was reported by Mint reported that the company has plans to bring the electric version of Kwid in India as well given the infrastructure available.

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