In line with its vision to double its market share by 2022, Renault India, the subsidiary of French car-maker Renault has lined up two new models, one of which is an electric vehicle.

Renault currently retails Kwid, premium Sports Utility Vehicle Captur, Lodgy and its flagship Duster’ in domestic and overseas markets.

Speaking to reporters after unveiling the booking of its latest sub-4 metre vehicle TRIBER, country CEO and managing director Venkatram Mamillapalle said, Renault India was eyeing to double market share by 2022 to 5% which include launch of two new models-a sports utility vehicle HBC and an electric vehicle (EV).

"The SUV (sports utility vehicle) will be on TRIBER platform and the other will be an electric vehicle. We will get into EVs. We are working in that direction. By 2022, we want to be there in EVs," he said.

According to him, the company has a market share of around 2.4-2.5% in India.

Asked whether the company would locally produce the electric vehicle in India, he said the body component will be made here and there will be some import content.

On the launch of TRIBER, he said the company would hold the market launch on August 28 and that bookings would commence from August 17.

Customers can book Renault TRIBE on the company's website by paying a token amount of Rs 11,000.

To a query, he said TRIBER would be the second product after the company's successful Kwid to carry the 'Made in India' manufacturing tag.

On serving the overseas market, Venkatram said they export Kwid to South Africa, Indonesia and Australian markets and TRIBER too would serve such markets.

"TRIBER will be the third flagship to Renault India after the first KWID and second Duster," he said.

TRIBER would have a localisation level of around 94% and the price of the vehicle would be revealed later, he said in response to a query.

On total sales of Renault India in 2019, he said the company clocked sales of about 86,000 units. This year target is 100,000 units, he said. He said TRIBER has already started to reach the company's over 350 dealerships present across the country.