Electric cars are "turning into a significant contributor to our performance while other automakers are just starting the journey", Chief Executive Carlos Ghosn said on Friday.
The company has started production of Captur as it prepares for a festive season launch and has opened bookings at an initial amount of Rs 25,000.
Moreover, in order to fight pollution successfully, old cars need to be phased out for electric cars to give the desired result, Renault India MD Sumit Sawhney said.
Renault could not meet the pricing parameters set by the Indira Gandhi government. And so to bring to life her son Sanjay Gandhi’s dream of making an a common man’s car for India it went ahead to join hands with Suzuki Motor Corporation.
The Renault Duster pretty much kick-started the compact SUV segment when it arrived in 2012 and is currently the automaker's second most-selling offering in the country
The move comes as global automakers tap into a boom for such cleaner new energy vehicles in the world's biggest auto market and gear up to meet its stringent plug-in car quotas.
Sumit Sawhney, country CEO and Managing Director, Renault India, told PTI that the much-talked-about launch will take place in the December quarter, but refused to specify whether it could be a Diwali offering.
The new policy comes after the company has made the decision to stop further production of the Duster in the above-mentioned variants
The USD 778 million deal follows the lifting of international sanctions after Iran's 2015 nuclear agreement with world powers.
Sales advanced to 1.88 million light vehicles in January-June, Renault said on Monday, at four times the rate of the global auto market's 2.6 percent expansion.
The company has cut price of its hatchback Kwid Climber AMT between Rs 5,200 to Rs 29,500, SUV Duster RXZ AWD between Rs 30,400 to Rs 1,04,700 and that of Lodgy Stepway RXZ between Rs 25,700 to 88,600.
Under the plan, the currently separate chief competitive officer (CCO) roles at Renault and Nissan would be fused into a single position at the 18-year-old alliance's helm, the sources said.
Renault's decision to temporarily halt manufacturing came after a worldwide cyber attack that locked up computers in more than 150 countries, causing widespread disruption.
The Paris prosecutor has opened an investigation following the cyber attack, a judicial source told Reuters on Saturday. The probe covers "Renault and other possible victims," the source said.
Like many organisations, our UK plant was subject to a ransomware attack affecting some of our systems on Friday evening. Our teams are working to resolve the issue," said the spokesman.
The company will also launch hybrid version of its top end SUV XTrail by the end of this year as it looks to enhance portfolio in the fast growing SUV segment in India.
The comments were included in a dossier submitted last November by the finance ministry's DGCCRF anti-fraud body, the source said. The agency announced at the time it had found "suspected breaches" of French law by Renault, and prosecutors opened a formal investigation two months later.
Renault is riding high on the success of the Kwid, having easily pipped the 2016 sales target of 1 lakh units. The company has now launched the 'climber' variant of the hatchback for Rs 4,30,000 ex-showroom Delhi.
Christened as Kwid Climber, the variant will be available in both manual and automated manual transmission (AMT) modes.
Carlos Ghosn, Chairman at Renault and Nissan, said the Mitsubishi can be operated the way Renault-Nissan is being run today. He said synergies can still be driven while keeping Mitsubishi's autonomy and keeping it separate.
The academy will be operational from April 3, 2017 and will operate out of the Renault Design Studio in Chennai, a brand new facility fully-equipped for developing new vehicles.
Over the last few years, Renault has focused on establishing a strong base in India and has become one of the youngest and fastest growing automotive brands in the country, the company said in a statement.
"KWID has been a true game changer and volume driver for Renault India with more than 1.30 lakh cars sold so far", the company said in a statement.
Tata Motors will offer drivers and passengers a digital driving experience which will allow car owners advanced navigation, predictive maintenance and vehicle centric services, remote monitoring of car features, external mobile experiences and over the air updates.
Spain's auto component manufacturer Gestamp has invested around Rs 260 crore to set up a manufacturing plant in India.