NEW DELHI, April 16 — French automaker Renault will have seven models in India by 2030, including battery electric vehicles, as it ‌steps up its product push in the world’s third-largest auto market, its global CEO Francois Provost said today.

The company also wants India to rank among Renault’s top three global markets by 2030, and aims to capture about 5 per cent of market share in the country by the end of the decade, Provost said at an industry event in Chennai.

Renault, which does not have a presence in the US and China, is doubling down on India — a ‌market it expects will play a key role in developing new ⁠models and boosting sales for ⁠the French carmaker globally.

“Our ambition goes beyond ‘India for ⁠India’ in growth and product,” Provost ⁠said, adding ⁠the firm sees the country as “a technology hub, an export hub, and a strategic asset on a global scale”.

The automaker expects electrified ⁠vehicles to account for about half of its sales in India by 2030 and plans to introduce cars across hybrid, electric and compressed natural gas powertrains.

Renault will also introduce small cars measuring less than four metres in length as part of its expansion in ⁠entry-level segments, Provost said.

Provost added that India is emerging as a major source of global engineering and innovation for Renault, and ⁠that the company aims to generate about €2 billion RM9.3 billion) worth of ⁠exports from ⁠the country by 2030.

Global automakers including Japan’s Toyota, Suzuki and China’s SAIC Motor are increasingly deepening investments in India, betting on rising domestic demand and ‌its growing role as a hub for automotive production and engineering. — Reuters