It is a French automobile manufacturing corporation established in 1899 by a French multinational manufacturer, Louis Renault along with his brothers, Fernand and Marcel. Louis wasan aspiring young engineer who had built and designed prototypes before getting into a team with his brothers. Renault Voiturette 1CV was the first Renault car launched which has been sold to one of the fathers of Louis’s friend afterhe was given a test ride in 1898. In 1903, the company started manufacturing engines. In addition, the company has successfully manufactured Paris and London taxis and increased its profitability. In the midst of 1907 and 1908, Renault was considered as the bestselling foreign brand in the many cities including New York. The company manufactured nearly 3575 units in 1908 and became the largest car manufacturer of the country.
Apart from this, publicity value was recognized by the two brothers that could be generated for their vehiclesthrough car racing. Renault participated in the city to city motor racing which was held in Switzerland.The company succeeded through producing rapid growth in sales. The vehicles of the company wereraced by Marcel and Louis, before the Paris Madrid Car Race held during 1903, in which Marcel had died in an accident. Louis did not race after this incident but the company on continuous basis reminded him about the winning race event held in 1906. The complete control of the company wastaken by Louis as he wasthe only remaining brother after the retirement of Fernand due to some health issues. AfterFernand’s death, Louis became the sole owner of the company. The company was renamed Renault Automobile Company. The company launched its first commercial truck in 1906 (Renault, 2017)
The company has manufactured line of products which includes vans and cars and in the recent year of its establishment, it has successfully manufactured tractors, trucks, coaches/buses, tanks and auto rail vehicles. In 2016, the company was considered as the 9th biggest manufacturer of cars in the world by volume of production. The hold of the company in the European market is strong and the segment of the company includes Hatchback, SUV and Sedant car users. It has positioned itself as a manufacturer of a variety of cars, including mini cars and MPV’s.
Joint venture between Renault and Mahindra
Renault designers visualized low-cost robust cars under €5000; it was one of the big hits by Renault in Europe. Mahindra and Mahindra has contemplated to snatch the opportunity by targeting new market of India. The important expertise of Renault includes engineering, design, and construction, and manufacturing safe and innovative vehicles all around the world. The supplier base is cost effective and it is wide as well as experienced and brand names are the UPS’s of the business. However, it has entered into ajoint venture with Renault so that it can take advantage of strengths of one another and capture the market in India. Renault is the second largest car manufacturing corporation in France and it is leading as the electric car developer. It is widely known for playing a major role in the motor sport.Renault owns 49% and Mahindra & Mahindra owns 51% in the joint venture…………………….
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