French carmaker Renault’s five-year Drive the Futurestrategy includes the introduction of eight electric vehicles and 12 hybrids. The company’s announcement also included plans for a large investment in “robo-vehicles.”
Renault would like to see a growth in sales of more than 40% to over 5 million vehicles annually, compared with 3.47 million units sold in 2016, as the company expands its product range.
The aim is to boost annual revenues to $82.2 billion by 2022. The company hopes to achieve this through an expanded presence in Russia and leveraging new opportunities in China, Brazil, India and Iran.
Drive The Future will build on the foundation of Groupe Renault’s last plan Drive the Change, which resulted in record growth and operating profit, increased synergies gained through the alliance with Nissan, empowered regions, expanded product mix and leadership in zero emission vehicles in Europe.
The plan will also include investment in digitalization in all parts of the company, in new talent recruitment and skills development. It is expected it will enhance industrial competitiveness, reduce the company’s carbon footprint, and improve sustainability while leveraging the R&D and global economies of scale from Renault-Nissan-Mitsubishi, the world’s largest automotive alliance
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.”