Half of Renault models to be electric by 2022
PARIS — French carmaker Renault said last Friday that half of its models will be electric or hybrid by 2022 and it’s investing heavily in “robo-vehicles” with increasing degrees of autonomy.
A strategic plan aims to boost Renault annual revenues to €70 billion (R1,1 trillion) by 2022 from €51 billion last year, in part through an effort to double sales outside its traditional markets in Europe — especially Russia and China.
The plans reflect the vision laid out last month by the Renault Nissan Mitsubishi alliance, the world’s number one carmaker by sales.
Many of Renault’s new aims depend on saving money through sharing platforms and development with Nissan and Mitsubishi.
Chief executive officer Carlos Ghosn said Renault is aiming to sell more than five million vehicles annually by 2022 from 3,2 million in 2016.
As regulators crack down on emissions from combustion engines and as drivers seek cars that can do more by themselves, Ghosn wants to position Renault as a major player in mass-market electric and driverless cars.
“We are confident we can turn upcoming ... challenges into significant business opportunities for Renault,” he said.