Renault Seeks Partnership in India with JSW Group

According to foreign media reports, Renault SA is currently seeking partners in India and has initiated preliminary negotiations with the JSW Group, owned by Indian billionaire Sajjan Jindal, to explore the possibility of forming a joint venture to strengthen its market position in India. The JSW Group operates in sectors including automotive, steel, energy, and infrastructure. The group previously acquired a 35% stake in competitor MG Motor India Pvt. through a joint venture with China's SAIC Group. Currently, the JSW Group is looking to independently develop its electric passenger vehicle business, and a partnership with a globally recognized automaker like Renault would significantly accelerate its strategic plans. Renault is expected to finalize its partnership plans in India after appointing a successor to outgoing CEO Luca de Meo, who has played a key role in reshaping Renault's global business focus and streamlining operations, including efforts in emerging markets such as India. Sources indicate that discussions between Renault and JSW are still ongoing, and it is uncertain whether a partnership will be reached. A spokesperson for Renault India declined to comment on the report, and the JSW Group has not responded to requests for comment. This pursuit of collaboration comes as Renault gradually diminishes its long-standing alliance with Nissan. As the largest shareholder of Nissan, holding a 36% stake, Renault is currently in the final stages of acquiring a joint venture plant in Chennai, India. This acquisition is part of a broader agreement announced by Renault and Nissan in Paris last March, under which their cross-shareholding ratio will be reduced from the current 15% to 10%. Sources reveal that the acquisition of the Indian plant, which began operations in 2010, could be completed in the coming weeks. In the fiscal year ending March 31 of this year, Renault sold approximately 38,000 vehicles in India, accounting for less than 1% of the total passenger car sales in the country. Historically, Renault's operations in India have followed a joint venture model, initially partnering with local automaker Mahindra & Mahindra Ltd., and later with Nissan, indicating that Renault prefers a shared ownership approach in one of the most competitive automotive markets globally. Despite the intense competition, Renault has carved out a niche in India with affordable compact models like the Kwid hatchback and Triber MPV, and the company also exports vehicles from its Indian plant to Africa and other Asia-Pacific markets. In April this year, Renault also opened its largest global design center outside France in a technology center near Chennai, India.