Renault To Invest $1.2 Billion For Development And Production Of Electric Vehicles In France

With the tremendous success of the Zoe electric hatchback in Europe, the Groupe Renault is accelerating the deployment of its 'Drive The Future' strategic plan with an investment of more than one billion euros for the development and production of electric vehicles in France. Renault posted 38 per cent growth in electric vehicle sales in Europe, with a 44 per cent increase in Zoe electric registrations and a 23.8 per cent market share in 2017.

Carlos Ghosn, Chairman and CEO, Renault said, "The acceleration of our investments in France for electric vehicles will increase the competitiveness and attractiveness of our French industrial sites. Within the framework of its Drive the Future strategic plan and with the Alliance, Groupe Renault is giving itself the means to maintain its leadership in the electric vehicle market and to continue to develop new sustainable mobility solutions for all."

(Renault will invest $ 1.2 Billion on EVs in France)

With the aim of strengthening the leadership of its French industrial base in the growing electric vehicle market, Groupe Renault plans to introduce a new Alliance electric platform in Douai to create a second Renault electric vehicle production site. The Alliance will also look to double the Zoe electric production capacity and the launch of a new Zoe electric car. The strategy will also look to triple the electric motor production capacities at its Cleon plant and introduce a new generation electric motor from 2021. The Alliance will also invest in Maubeuge for the production of the next generation of the Kangoo family, including the electric utility vehicle Kangoo Z.E.

Renault previously announced that it plans to recruit 5,000 employees on permanent contracts in France between 2017 and 2019 and to spend 235 million euros on training over the same period. Focused on the future, Renault's plants are adapting to meet the demands of their customers and the new challenges of the automotive sector. The Group intends to continue the modernization and digitalization of its French industrial network to ensure a high level of activity at its sites.