French car major Renault is set to launch five new cars before 2012.
The company, which is setting up a Rs 4,500 crore (Rs 45 billion) car manufacturing plant at Oragadam along with its Japanese partner, has said it is targeting 70,000 units over next four to five years.
Speaking to Business Standard, Marc Nassif, managing director of Renault India, said, "On the industrial side, our plan to invest Rs 4,500 crore before 2015 is clear, with the Japanese partner Nissan, at Oragadam, near Chennai for setting up a manufacturing unit with a capacity of 400,000 vehicles a year.
First model from Renault for India will be Fluence, by mid-2011, is on track. India has confirmed with Brazil and Russia as a top priority for Renault expansion."
Ashish Sinharoy, vice president, communications and corporate affairs, Renault India said the company has set a target to capture five per cent of Indian car market by 2020.
He added, the company would launch five models and has set a sales target of 70,000 units by 2014.
The company is planning to launch Renault Fluence, a luxury sedan by mid-2011, followed by Renault Koleos, a high-end compact SUV in October this year.
He added, Renault would add seven to 10 dealers in India by mid-2011 and by 2012, it would be increased to 70.
He added that the company's target would be an average car buyer (mid and upper middle class).
"High end segment is not part of company's DNA," he said.
Asked whether the company would look at exports from Oragadam facility, Sinharoy, said that the company is not looking at exporting from India for now, as the facility is primarily meant for domestic market.
It may be noted, the French-major Renault along with Nissan Motor India Private Ltd, a 100 per cent subsidiary of Nissan Motor Limited Japan, was incorporated in 2005 to make Chennai a strategic hub for production, R&D and exports for Nissan.
In February 2008, Nissan, together with its global alliance partner Renault signed a MoU with Government of Tamil Nadu to set up a manufacturing plant at Oragadam, near Chennai with an investment of Rs 4,500 crore over a period of seven years.
On March 17, 2010, the Renault-Nissan alliance plant was inaugurated in a record time of 21 months since its `groundbreaking ceremony in June 2008.
The Plant has an initial capacity of 200,000 units per year and can reach 400,000 units per year in full capacity in the future.
Later, due when the financial melt down had hit the global auto industry, in April 2009, the company said that though the production has been suspended the company would continue to invest in building infrastructure for the plant, to be used at a later date.