Nissan Motor Co's director, representative executive officer, and chief operating officer, Ashwani Gupta, told reporters on Monday that Renault Nissan Alliance plans to invest $600 million (Rs5,300 crore) in India operations in the next five to six years to bolster its existence with half a dozen new models beginning in 2025.

As part of this proposal, Renault & Nissan each would develop, produce, and sell three brand-new automobiles for domestic and international markets.He said this would include four SUVs and two EVs in the A category. "To accomplish this, we will fund $600 million and hire an additional 2,000 workers," he continued.

Partners of two decades have recently restructured their investment collaboration by putting both firms on an equitable basis in shareholding, prompting the relaunch of India operations.

As terms of the agreement, Nissan & Renault have committed to investing more funds in markets, automobiles, and technological advances in Latin America, India, and Europe. Nissan also announced its intention to invest in Renault's battery replacement vehicle unit.

Nissan will invest in Renault's innovative electric vehicle (EV) unit as part of a restructuring of their two-decade collaboration announced on Monday.

This investment, which will be made in equal portions by both companies in the world's third-largest auto market, will be substantial in products and technologies such as EVs to truly capture the expanding Indian market, he asserted.

Nissan hopes to increase its existence in a nation where it currently holds only a 15 percent share of the market potential. It now offers only two products in India, the Kick, and the Magnite, and has a market share of less than 1% in the very competitive PV market.

Also Read: The Economic Survey predicts that India will sell 1 million electric vehicles

The company anticipates that entering the rapidly expanding C and A sections will assist in more than doubling its market coverage. He stated that the models, both internal combustion engines (ICE) & battery electric vehicles (BEV), will be manufactured with high local content. "The ultimate objective is to have anything local for locals," he stated.

The firms have graduated from cross-branding. We no longer begin with the product, but rather with the customers, and as you can see, we have a very distinct brand identity; you will still not consider it a cross badge," added Gupta.

The most recent Micra EV launched in Europe, although based on the Renault 5, is rather distinctive, he noted. "Each of the six vehicles we're discussing will be distinct, including our shared vehicles Magnite, Aria, etc.

The next A-segment EV will be an entirely new vehicle based on the company's thirteen years of experience with the design, development, production, and global sales of battery electric vehicles such as the Leaf and other models.

According to Gupta, BEVs, not hybrids, would be a major strategic pillar for India's electrification progress. Even though Nissan can produce EVs and hybrids, the business has adopted a different propulsion mix in each region based on local regulations and customer choice. 

"In India, Nissan's top objective is to introduce battery-powered cars; this is the direction India is headed," said Gupta.