21 new Group Renault models to be launched before 2022

Marco Green
October 6, 2017

A strategic plan released Friday aims to boost Renault annual revenues to 70 billion euros ($82.2 billion) by 2022 from 51 billion euros past year, in part through an effort to double sales outside its traditional markets in Europe, notably in China and Russian Federation.

CEO Carlos Ghosn said Renault is aiming for 20 electric or hybrid models by 2022, more than half of its 39 models overall.

As expected, electric and autonomous vehicles feature heavily in the six-year plan.

By the end of the plan, the company expects to deliver annual revenues of over 70 billion euros, compared to 51 billion euros in 2016. In the next six years, Groupe Renault will plan to sell five million vehicles outside Europe, doubling its sales outside its home continent.

This will be achieved through doubling its market coverage, as well as capitalising on growing markets like Brazil, India and Iran, increasing operations in China with partner manufacturer Brilliance, as well as strengthening its hold on Russian Federation with the Lada brand.

The company sees 15 AD (Autonomous) vehicles and new mobility services - ride-hailing, robo-taxi services by end of plan.

The plans reflect the vision laid out last month by the Renault Nissan Mitsubishi alliance, the world's No. 1 carmaker by sales. "Drive the Future is about delivering strong, sustainable growth benefiting from investments in key regions and products, leveraging Alliance resources and technologies, and increasing our cost competitiveness". Budkowski will oversee all chassis development and production activities.

In Paris, Renault shares were trading at 86.44 euros, up 0.98 percent.

Other reports by Click Lancashire

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