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Renault commits 1bn euros to EV's

June 19, 2018

Renault has announced that it is investing more than one billion euros (£874 million) in electric vehicle production and development in France.

 

Four main projects will benefit most from the investment, including the introduction of a new Renault-Nissan-Mitsubishi Alliance platform, with the architecture specifically designed for electric powertrains.

 

Also set to benefit is the facility at Flins, which will see production capacity of the Zoe double, and electric motor production capacity will triple at another site, plus see the introduction of a new generation of electric motor. Also confirmed for investment is the next generation Kangoo, which will include a Kangoo Z.E variant as it currently does.

 

The investment has come about as part of Renault's Drive the Future plans, which looks to make the most of the Alliance's strength in the electric vehicle market. In Europe last year, Renault saw growth of 38% in electric vehicle sales, with Zoe registrations up more than 40%.

 

The Drive the Future plans - which have outlined aims from 2017 until 2022 - include leadership in the electric vehicle market, with eight electric models and 12 electrified variants due as part of the company's line-up in that time.

 

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