Shanghai: French auto maker Renault has suspended plans to carve out a presence in China and will focus on India instead, the company’s Asia-Africa area chief Thierry Koskas said.
“We don’t have any projects for China at the moment, as we’re already engaged elsewhere in Asia, with sizable projects in India and Iran,” he told AFP in an interview on the sidelines of the Auto Show Shanghai.
While other car makers are redoubling their focus on the Chinese market, already the second-largest in the world, Renault’s presence has been modest so far. It makes no autos in China.
In 2004, Renault announced plans to invest 300 million euros in a car manufacturing joint venture with Chinese auto maker Dongfeng, but the plans never materialised.
“To be active in China, you need significant amounts of money -- money which we today invest in other countries. In the long term, we’ll definitely come to the Chinese market, but we’ve got no timetable,” Koskas said.
Last year it sold 3,000 cars in China, and this year it hopes sales will reach 4,000 units, all imported.