Multiple businesses have exited Russian markets in light of the Ukraine conflict. Many automakers now find themselves holding excess capital that they can redirect to different markets. Such is the case with the Renault Nissan Franco-Japanese alliance.
Hence, the two automobile manufacturing firms are gearing up to declare their next investment phase in India. According to a report by Autocar Professional, the investment, amounting close to $500 million or around Rs 4,000 crores, is in the final stages of approval. This liquidity injection is set to be announced in the next few weeks.
A large chunk of this money is going to be funnelled into introducing a new platform in the country. This framework, called the CMF-B, will not only result in the comeback of much-loved Renault Duster SUV in its next-gen form but will also serve as the entry point for a plethora of new models from Renault and Nissan.
The CMF-B platform will see a high degree of localisation. It will also result in the development of the next-gen Duster, a larger SUV that will emanate from the Bigster concept, and an Electric Vehicle (EV) derived from the platform’s electric derivative, the CMF-B EV.
Nissan will also get corresponding mid-size B-segment and C-segment SUVs and an EV, the report added.
The introduction of the CMF-B platform marks a change from the alliance’s focus on the low-cost CMF-A architecture in India. However, since a fresh investment is coming in for the CMF-B platform, it will not be replacing CMF-A but running in the market alongside it. Consequently, the alliance will be able to cater to a larger customer base.Introducing the CMF-B platform in the Indian market and localising it will be a time-taking affair. As a result of the incubation time, the slew of products including the next-gen Renault Duster will hit Indian roads only in 2024-25.