New Delhi, Apr 30 (PTI) French automaker Renault is undertaking a restructuring of the group's operations in India with plans to separate powertrain production from vehicle manufacturing and sales operations, the company said on Thursday.
Renault Group India has approached the National Company Law Tribunal (NCLT) for approval of a proposed structural realignment of its India operations, it said in a statement.
"It envisages the powertrain manufacturing activity being organised as a dedicated powertrain entity within Renault Group India, while vehicle manufacturing and sales operations are brought together under an integrated operating structure," it said.
The proposed realignment is aimed at creating clearer and more focused operating structures.
"This alignment reflects the distinct industrial and operating requirements of the businesses and is intended to support Renault's long-term business strategy in India, including strengthening India's role as a manufacturing and export base, with the ambition of supporting exports of up to 2 billion euros annually by 2030," the carmaker said.
The proposed changes do not involve any disruption to business operations.
Renault Group India further said,"There is no impact on employees, customers, dealers, suppliers, or partners. Employment terms, service continuity, and existing relationships remain unchanged, and business continues as usual."
All existing manufacturing, supply, and service commitments, including commitments to partners, continue unchanged.
Renault Group India remains fully committed to India as a key market and manufacturing hub and will continue to engage transparently with stakeholders as the process progresses, the statement said.