Renault plans to invest over ten billion euros in France

Renault plans to invest more than ten billion euros in France over the next five years. However, the group is linking the plans to political and social conditions.

Paris. The French car manufacturer Renault wants to invest more than ten billion euros in its home market over the next five years. The money should flow into electric vehicles and more affordable cars, CEO Francois Provost told radio station France Inter on Saturday.

The prerequisite for the investments is that the social and political environment allows this. In the past five years, the company has already invested 13 billion euros in France to completely convert production to electric mobility, Provost explained.

The demand for electric cars has recently risen sharply in France. Of new car registrations in September, 42 percent were electric cars - more than ever before. This development is fueled by the sharp rise in fuel prices since the start of the Iran War.

This is also reflected in Renault's production figures. “The reality is that today in France, in the French factories, we are producing more vehicles than before,” Provost said. In 2025, Renault will produce 500,000 cars in France. In 2026, production will increase by at least 25 percent thanks to the ramp-up of electric vehicles.