Renault to invest more than €1 billion in electric vehicles

July 3, 2018

Renault to invest more than €1 billion in electric vehicles

Renault’s 100% electric ZOE is among the vehicles targeted for expanded development and production (Courtesy Groupe Renault)

 

Groupe Renault, headquartered in Boulogne-Billancourt, France, has stated that it will accelerate the deployment of its ‘Drive The Future’ strategic plan by investing more than €1 billion in the development and production of electric vehicles in France, drawing on its alliance with Nissan and Mitsubishi. To strengthen the leadership of its French industrial base in the growing market for electric vehicles, the group reported that it will:

  • Introduce a new alliance electric platform at its site in Douai to create a second Renault electric vehicle production site
  • Double ZOE production capacity and launch a new ZOE at its Flins site, the only ZOE production facility globally
  • Triple electric motor production capacities at its Cleon facility and introduce a new generation electric motor from 2021
  • Invest in its site at Maubeuge for the production of the next generation of the Kangoo vehicle family, including the electric utility vehicle Kangoo Z.E.

“The acceleration of our investments in France for electric vehicles will increase the competitiveness and attractiveness of our French industrial sites,” stated Carlos Ghosn, Chairman and CEO of Renault. “Within the framework of its Drive the Future strategic plan and with the alliance, Groupe Renault is giving itself the means to maintain its leadership in the electric vehicle market and to continue to develop new sustainable mobility solutions for all.”

In an electric vehicle market with strong potential, the alliance is said to be the combined world leader in electric vehicles, with Groupe Renault stating that it is leading electric vehicle development in Europe. In 2017, Renault posted 38% growth in electric vehicle sales in Europe, with a 44% increase in ZOE registrations and a 23.8% share of the electric vehicle market.

The group has previously announced that it plans to recruit 5,000 employees on permanent contracts in France between 2017 and 2019 and that it will spend €235 million on training over the same period. Renault’s stated that its plants are adapting to meet the demands of their customers and the new challenges of the automotive sector, and that it intends to continue the modernisation and digitalisation of its French industrial network to ensure a high level of activity at its sites.

www.group.renault.com

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