Renault eyes doubling of component export revenue from India by next year

French car maker Renault is planning to double revenues from automobile component exports from India to various global operations by next year, aiding its suppliers in the country to stay afloat at a time when the domestic industry is going through a prolonged slowdown.

The company garnered a total revenue of around 190 million euros in 2018 from component exports from India to its various global operations.

The automaker, known for its Duster and Kwid models, is now also looking at bolstering its presence in India with plans to launch three new models, including an electric vehicle, by 2022 in line with its mid-term plan to double its market share in the country by that year.

Renault India has a market share closed to 4 per cent in the domestic passenger vehicle segment.

Besides, it also aims to double sales and services network in the country in order to support new products and also its existing customers.

"We export a lot of parts, close to 198 million euro worth of parts are ...