The automaker, known for its Duster and Kwid models, is now also looking at bolstering its presence in India with plans to launch three new models, including an electric vehicle, by 2022 in line with its mid-term plan to double its market share in the country by that year.

Renault India has a market share closed to 4 per cent in the domestic passenger vehicle segment. Besides, it also aims to double sales and services network in the country in order to support new products and also itsexisting customers.

“We export a lot of parts, close to 198 million euro worth of parts are getting exported globally per annum and this is going to double by the first half of the next year,” Renault India Operations Country CEO and MD Venkatram Mamillapalle (inset) said. The exports are helping in keeping the supplier community of Renault in India intact, he added.

“They (suppliers) might see a lot of decline in volumes (domestic market) but they are not impacted as exports have picked up more and thanks to devaluation of the rupee, it means better revenues as you get paid in euros,” Mamillapalle said. The company exports components such as engine parts, plastic and body parts to countries such as Russia, Brazil, Romania, Colombia, Argentinaand Morocco.