Renault-Nissan alliance is planning to invest more $2.5bn in its operations in India through 2018, which would assist in developing new vehicle models.
The Franco-Japanese alliance has already invested about $2.5bn in Indian projects including on a technology centre and on the development of a low-priced car platform known as 'Common Module Family' (CMF).
Renault-Nissan CEO and chairman Carlos Ghosn was cited by Reuters as saying, "I think you can count that the 2.5 will double in the next five years."
The alliance is also targeting a collective market share of 5% in India by the end of 2013, compared to earlier projected 3% in March and aims to capture 15% share in following years.
Renault-Nissan is also working to launch low-cost cars based on the jointly developed CMF-A platform in 2015, aimed at emerging markets including India.
"We are breaking new ground with CMF-A to meet and exceed the high standards of consumers in the world's fastest growing economies - particularly people buying a new car for the first time," Ghosn said.
The alliance operates its largest dedicated manufacturing plant in Chennai, India, which builds the Renault Pulse, Scala and Duster, and the Nissan Micra, Sunny and Evalia models, while representing an investment of $1bn between 2008 and 2015.
Renault-Nissan alliance managing director for logistics Christian Mardrus said that the alliance has more and more convergence in its products.
"In 2015 when we launch the first low-cost car, we will definitely do more than 3 billion euros in cost savings," Mardrus said.
