Groupe Renault announces strategic plan
Groupe Renault announced Drive The Future, the company’s six-year plan that includes achieving annual revenues of more than €70 billion and attaining positive free cash flow every year. The company plans to expand its product range in light commercial vehicles (LCVs) and new zero-emission electric vehicles (EVs), and to build on its global access range. The plan is designed to leverage R&D and global economies of scale from Renault-Nissan-Mitsubishi while maintaining financial discipline and cost efficiency.
Renault Chairman and CEO Carlos Ghosn said, “Groupe Renault is now a healthy, profitable, global company looking confidently ahead. 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. Supported by the men and women of Renault, this new plan will unleash our full potential to innovate and grow in a rapidly changing industry.”
Key elements and technology development areas of the plan include
- New strategic joint ventures in EV and LCV in China
- R&D investment – €18 billion over six years
- Connected – 100% vehicles connected in key markets
- Autonomous – 15 autonomous drive vehicles
- New mobility services – Ride-hailing, robo-taxi services by end of plan
- EV Leadership - 8 pure electric vehicles models, 12 electrified models
The company reports that Drive The Future will also include investment in digitalization in all parts of the company, in new talent recruitment, and skills development. The plan expects to enhance industrial competitiveness, reduce the company’s carbon footprint, and improve sustainability.
More information about Drive The Future can be found at drivethefuture.groupe.renault.com.