Japanese automaker Nissan announced a $100 million investment on Friday to further establish India as a key export hub for its compact SUV, the Magnite. This investment adds to the previously allocated $600 million dedicated to new product development and expanding sales infrastructure in the country, with the goal of tripling domestic sales and exports to 100,000 units each by 2026.
“This additional $100 million investment for the Magnite is on top of the $600 million already committed, demonstrating Nissan’s strong commitment to India,” said Frank Torres, President of Nissan India Operations.
The company is working on a left-hand drive version of the Magnite to extend its reach from the current 20 export markets to 65, further solidifying India’s position as a global export hub for Nissan. Nissan plans to introduce five new models over the next 30 months, including two mid-size SUVs (a five-seater and a seven-seater) and an electric SUV aimed at the mass market.
The electric SUV is expected to debut by the end of 2026 as demand for electric vehicles is projected to rise by that time. Regarding powertrain options for the Indian market, Torres stated that Nissan is exploring various alternatives, including hybrid and CNG.
Saurabh Vatsa, Managing Director of Nissan Motor India, shared that the company aims to increase its domestic market share from 1% to 3%, targeting 100,000 units in annual sales by FY26, up from the current 32,000 units.
Additionally, the company launched the new version of the Magnite on Friday, with prices starting at ₹5.99 lakh (ex-showroom). The company is a subsidiary of the Japanese automaker Nissan Motor Corporation, playing a pivotal role in the company’s global strategy.
Established in 2005, the company has made significant strides in the Indian automotive market by offering a range of vehicles, including compact cars, SUVs, and electric models. The company is particularly noted for its commitment to sustainability, exemplified by its electric vehicle, the Nissan Leaf, and its ambitious plans to expand its electric vehicle lineup in India.
With a focus on innovation and advanced technology, Nissan India aims to enhance the driving experience while meeting the evolving needs of Indian consumers. The company’s manufacturing facility in Chennai, which is equipped with state-of-the-art technology, not only serves the domestic market but also exports vehicles to various international markets, contributing to it’s global footprint. Furthermore, the company actively engages in community development and sustainability initiatives, reinforcing its dedication to corporate social responsibility.
