The Renault group plans to invest over 10 billion euros in France over the next five years, directing the funds to expand the range of electric vehicles and develop more affordable models for the mass consumer. The plans were officially announced by the company's CEO François Provost in an interview with French radio France Inter.
The management of the French manufacturer is building on the results achieved in the previous five-year period, in which 13 billion euros were invested to completely modernize the industrial presence and reorient towards electric mobility. The new investment package, however, is tied to the future development of the social and political context in the country, with the main goal remaining the sustainable promotion of the ecological transition and, above all, the supply of competitive and financially accessible cars.
The financial injection comes against a backdrop of strong market indicators. In September, the share of fully electric cars in total new vehicle sales in France reached a record 42 percent. This surge is also supported by external factors, including rising fuel prices on international markets.
In parallel with the financial investments, Renault's production ambitions are showing a significant increase. The company's local plants are expected to end the year with approximately 500,000 assembled vehicles, with forecasts indicating an increase in volumes of at least 25 percent within the next twelve months.
As part of its new investment strategy and ambitious electrification plan, the French concern Renault is directing significant resources towards affordable urban and mass models. The company's main goal is to overcome the price barrier for electric vehicles by maintaining extremely competitive prices for its next generation of mass-market vehicles.
A striking example of this policy is the fully electric Twingo E-Tech, whose base price on the European market is targeted below the 20,000 euro threshold in order to become an affordable solution for a wide audience. With such pricing moves and a focus on economic efficiency, the brand aims to consolidate its leadership position in the segment of affordable eco-friendly vehicles.