Our hybrid technology could be the surprise of the market: Renault CEO

Having unveiled the new Duster SUV in three powertrains, including a hybrid, French carmaker Renault, which for last two decades remained a significantly marginal player in India, is now banking on it’s hybrid technology to achieve 3 to 5% of market share in India by 2030, it’s global CEO said in an interview. 

“The changes in terms of growth in the Indian market in the last five years are huge. We are seeing India is better than Germany. It was a question five years ago. Now, India is almost doubling the level of the market of Germany. 2.8 [million] versus 4.5 [million]. Also India has made huge progress in terms of connectivity, in terms of perceived quality,” said Fabrice Cambolive, Chief Growth Officer, Renault Group & CEO Renault brand.

Stating that India is playing on multiple types of engine technologies, he said it has been achieved at super competitiveness though everything has changed. 

“Renault has a kind of soul here in India, because we, like India are bold. And we

are bold to be a pioneer on opening new segments like we did in the past. And with this boldness, you will see that in the number of models we will announce now, but also in the technology we are betting out which is hybrid, which for me, could be one of the surprises of the market in the coming years,” he said.

“That’s why coming back here with the new Duster is just a first step. We have to make the difference with the Duster betting on worldwide technologies like hybrid, like Google in terms of connectivity, betting also on our boldness in terms of design, and also playing our usual assets,” Mr Cambolive said.

He said Duster was very successful because that was one of the best matches between dynamic handling, ride and handling, and Indian road conditions.

“And you will see with the new Duster the level of dynamic driving of the car. It is very, very at the top of the competition. And this is for me also very important,” he emphasised. 

 Besides, Duster which will kickstart the company’s renewed momentum from March onwards, the company will introduce some more models until 2030. 

“And this is a whole challenge for the team here to be able to use our worldwide technology, but to develop for India for India,” he said.

On the company’s goals in India, he said. “The first ambition is to gain speed in terms of product development. And the first ambition is not only to be satisfied with the launch of Duster, but to announce the next launch as rapidly as possible,” Mr. Cambolive said.

Pointing out to the new Duster as the first cornerstone in India, he said, “[Renault] India should take the lead, not only in the number of models, but they have the chance to have two versatile platforms, which can accept cars shorter and bigger. It means we have room for creativity. And you will see that we’ll come with some surprises and new kind of cars which are not existing up to now worldwide,” he said.

“This is most important. But at the same time, India now should help us also on very targeted technology like hybrid, like connectivity, for instance, where there is a know-how here in India. We have to use it extensively,” Mr. Cambolive pointed out.

On the company’s product rollout plan, the global CEO said, “We said in 2023, when we announced the 2027 Renault International Game Plan, that between 2023 and 2027, we will launch eight new models all around the world.”

“We just announced five models until now. It means more new models will come until 2027. And some of them will be for the Indian market,” he said.

Answering a question on electric cars in India he said, “Electrification is picking up, but remains now at between 4 and 5% of the market. If you look at hybrid, hybrid is just only at 2%. And for me, you will see one of the best changes in the coming years will be a shift between diesel and hybrid, which is a first priority for us,” he stated.

“Of course, it will not be done by all the OEMs, but we don’t want to be in a niche market. We are not a major player, we are an outsider. And among the outsiders, we want to be the best of hybrid, take the best of hybrid, which will grow,” he emphasised. 

“You will see much more [hybrids] rapidly than what we think. Of course, when you have a big market [growing] at 5%, one has to be also in this market. It’s not the time to announce something, but of course, we’ll come in the race also on this market,” he said. 

Stating that the market in India is not so fragmented as in many other markets, he said Renault would want to be one of the best “outsiders” of the market. 

“It means, in 2030 if we are reasonably good, we should be between 3% and 5% of the market,” he outlined. 

He said for the company Brazil and India are the market where the potential of growth is the most important. 

“India now with the new free trade agreement, we have to analyse exactly the numbers. The FTA is a very strategic move, which could lead us to consider India, of course, as one of our best growth potential markets outside Europe,” he said.

“For me, this FTA is important. Firstly, the political side. Second point, the capacity to share technology between Europe and India. And third point is to add new potential of export from Indian or parts products to Europe, he said.