Nissan to expand addressable market in India, says CEO Makoto Uchida
Company to cater to affordable and premium car market.
Nissan Motor Corporation CEO Makoto Uchida says the brand is not at the "right level" in India and the company is working with alliance partner Renault to have a "bigger potential" in the future.
Nissan, which is currently a "single model" with Magnite SUV, is looking at expanding the addressable market, both at the affordable end as well as in the B and C segment in the future.
"Today are we at the right level? The answer is No. That is why we are discussing in depth with our partner, how we are going to move forward in that potential market," said Uchida.
The CEO said that India is "an important market for the future" with a "huge potential" to grow.
"We are investing in India and have new models coming up and we are looking at EV as well. I will say that customers are willing to pay more for the vehicles with household income going up, so that creates opportunity in the B and C segment, yet the affordable market will grow, so we will participate on both ends of the market - affordable and B and C segment," added Uchida.
Nissan Motor Corporation has announced a $660 million investment in India along with its alliance partner Renault, which will go into half a dozen models - with 3 models each for both Nissan and Renault.
The Japanese auto major in the meanwhile is looking at CBU (completely built unit imports) and CKD (completely knocked down kits) models to re-ignite the premium imagery around the brand. The X-Trail and Ariya EV are the two potential alternatives likely to hit the road along with a facelifted Magnite in the coming two years, before Nissan enters into the highly competitive B and C segment SUV market in 2025.
On the power train front, the company has committed to battery electric vehicles with A segment EVs, and petrol SUVs in B and C segment for its next phase of investment. However, with hybrids gaining momentum in India led by Suzuki and Toyota, Nissan Motor India on its part is studying its E-Power technology for its SUVs to offer a diversified portfolio.
The localisation of Cells, battery and motor along with E-Power technology is also being studied at present, said the senior company officials.
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