Renault's $3.2 Billion Investment: Eight New Cars and Electric Focus Worldwide

Renault's $3.2 billion investment in new cars and global electric push. Learn about their plan for expansion and eco-friendly vehicles.

Oct 25, 2023 - 09:53
Oct 25, 2023 - 09:54
 0  190
Renault's $3.2 Billion Investment: Eight New Cars and Electric Focus Worldwide
Renault's $3.2 Billion Investment: Eight New Cars and Electric Focus Worldwide

Renault, a big car company, has decided to spend a lot of money, about $3.2 billion, to make eight new cars. They also want to sell more electric cars in places outside of Europe. This is part of their big plan to make Renault popular around the world.

The bosses at Renault have been thinking hard about how to make their business better. They looked at which cars make the most money, and they found that electric cars and small cars are very popular, especially in Europe.

But there was a problem. Renault used to sell a lot of cars in Russia, but because of some fighting in Ukraine, they can't sell cars there anymore. This means that Renault is depending more on Europe to sell their cars. In the first nine months of 2023, almost 69% of Renault's sales were in Europe, which is more than last year.

The boss of the Renault brand, Fabrice Cambolive, said, "We did a good job with our cars in Europe. Now we want to do the same in other parts of the world and make more money."

Renault wants to make sure that by 2027, about a third of the cars they sell in places outside of Europe are either electric or a mix of electric and regular fuel.

The first new car they're going to make is a small SUV. It's going to be called Kardian, and it's based on another car called Dacia Sandero. They showed this new car in Brazil, which is one of the places where Renault sells a lot of cars.

They're going to start selling the Kardian next year in Latin America and Morocco.

They're also going to make five more new cars. These cars will be a bit bigger and will be made to be very good value for money.

Renault is going to use two new platforms to make these cars. A platform is like a special base that they build the cars on. One platform will be used for cars in Latin America, Turkey, Morocco, and India. They will also use this platform to make a special kind of pickup truck that uses both electric and regular fuel. They showed a special model of this truck, called Niagara, in Brazil.

The other platform will be used to make fancy cars in South Korea. This is part of an agreement Renault made with another company called Geely in 2022. The first car made from this platform will come out in 2024.

So, Renault is working hard to make new cars and sell more electric cars all around the world. They want to make sure people everywhere can get the cars they want and help the environment too.

Also Read: New EV Tax Credit 2023: List of Electric Vehicle Models Eligible for Up to $7,500 in New Tax Credits

iShook Opinion Curated by iShook Opinion and guided by Founder and CEO Beni E Rachmanov. Dive into valuable financial insights at ishookfinance.com for expert articles and latest news on finance.