Renault is accelerating the deployment of its Drive The Future plan with an investment of more than EUR1bn (US$1.2bn)for the development and production of electric vehicles in France.

The automaker plans to:

  • Introduce a new Alliance electric platform in Douai to create a second Renault electric vehicle production site
  • Double Zoe production capacity and the launch of a new Zoe at Flins
  • Triple electric motor production capacities at Cleon and introduce a new generation electric motor from 2021
  • Invest in Maubeuge for the production of the next generation of the Kangoo family, including the electric utility vehicle Kangoo
  • "The acceleration of our investments in France for electric vehicles will increase the competitiveness and attractiveness of our French industrial sites," said Renault chairman and CEO, Carlos Ghosn

"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 posted 38% growth in electric vehicle sales in Europe, with a 44% increase in Zoe registrations and a 23.8% market share in 2017.

Renault previously announced it plans to recruit 5,000 employees on permanent contracts in France between 2017 and 2019 and to spend EUR235m on training during the same period.

Groupe Renault Strategic Plan - Drive The Future (2017-2022) - targets by the end of the plan:

  •  Turnover of more than EUR70bn 
  •  Group operating margin of more than 7%, representing an increase of more than 50% in value, with a floor of 5% during the life   of the plan  
  •  Positive cash flow each year  
  •  EUR4.2bn in Monozukuri savings across the life of the plan 
  •  EUR18bn of investment in research and development  
  •  More than 5m vehicles sold, doubling sales outside Europe 
  •  Leadership on the electric vehicle: eight electric models, 12 electrified models  
  •  100% of vehicles connected to key markets and 15 autonomous Renault vehicles