Renault plans to invest billions in electric and affordable models

Renault wants to invest more than ten billion euros in electric and cheaper models over the next five years. However, CEO Provost ties the plans to a stable social and political environment.

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, said CEO François Provost on the France Inter radio station. 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.

Internationally, the French automobile manufacturer is increasing its activities in South America. Together with the Chinese company Geely, Renault is investing the equivalent of 319 million euros in Brazilian production capacities. The two manufacturers are partners in the South American country after Geely acquired a 26.4 percent stake in Renault do Brasil as part of an agreement in 2025. According to the companies, the investment will finance the production of a new electrified Renault vehicle and flex fuel technology called "Renault Hybrid E-Tech 4x4" in Brazil in 2027.