The company, which hopes to launch an hybrid version of SUV XTrail by 2017 end, will target the sports hatchback and executive sedans segment in hopes of increasing its market share in the country.

Hyderabad: Japanese automaker Nissan plans to launch eight new models and refresh 22 models in a major revamp to its portfolio in hopes of repeating its success in China by capturing 5 per cent market share in India by 2021, a top official said here on Monday

Speaking to the media following the national launch of the 2017 edition of Nissan Terrano, Sanjeev Aggarwal, vice president, after-sales, Nissan Motor India, said: “We have recorded a growth of 50 per cent in the current financial year till December. We are the second largest growing OEM in India. And we want to capture a five per cent market share by 2021 from the current 1.8 per cent.”

He added, “In three years we need to ramp up very strongly. For that to happen, Nissan plans to launch eight new products and refresh 22 models by 2021.”

The company, which hopes to launch an hybrid version of SUV XTrail by 2017 end, will target the sports hatchback and executive sedans segment in hopes of increasing its market share in the country.

The plan is already under motion with the fourth generation Nissan Terrano, priced between Rs 9.9 lakhs and Rs 14.45 lakhs (ex-showroom Hyderabad), being the second model to be refreshed after the 2017 edition of Micra was showcased at Geneva Auto Show earlier this month.

Mr Aggarwal said, “We hope to repeat something similiar in India to what we did in China and meet our five per cent target before thinking further ahead.”

Mr Aggarwal replying to a question on Nissan’s India operation said, “Nissan has already exported over 7 lakh made-in-India cars since it started exporting from India.”

He also cited due to favourable conditions, the company has already invested more than it initially set out to. “Nissan had set an investment target of Rs 45 billion but the company has already invested around Rs 65 billion in factory and R&D centre in Chennai due to favourable conditions.