Renault outlines 'Drive the Future' initiative to 2022

By Simon Warburton | 6 October 2017

Renaults six-year plan aims to deliver annual revenues of more than EUR70bn

Renault's six-year plan aims to deliver annual revenues of more than EUR70bn

Renault has unveiled its 'Drive The Future' six-year plan to deliver annual revenues of more than EUR70bn and achieve a Group operating margin of 7%+ with a floor at 5% and positive free cash flow every year. 

In the plan, Groupe Renault forecasts unit volumes will grow more than 40% to 5m units, compared with 3.47m sold in 2016, as the company expands its product range, including LCV and new zero-emission electric vehicles.

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, expanded product mix and zero-emission vehicles in Europe.

"Groupe Renault is now a healthy, profitable, global company looking confidently ahead," said Renault chairman and CEO, Carlos Ghosn.

"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."

Key elements of the plan include:

Worldwide profitable growth:

Alliance scale and technologies to support the growth:

As well as Groupe Renault key assets:

Drive the Future will also include investment in digitalisation in all parts of the company, in new talent recruitment and skills development. Renault maintains its plan will "enhance industrial competitiveness, reduce the company's carbon footprint, and improve sustainability."