Groupe Renault sets sights on 40% growth by 2022
Groupe Renault has revealed its six-year plan to grow global sales by 40%, to five million units, while widening its line-up of plug-in models and extending its commercial vehicle offer worldwide.
As well as growing volumes, Drive The Future is focused on profitability; it will aim for positive free cash flow every year en route to annual revenues of over €70bn and a 7% profit margin.
By the end of 2022, Renault will have launched 21 new vehicles worldwide, 18 in Europe, and three of these will be entirely new models. Around 80% of its global product offer will be on one of five common platforms, cutting cost and complexity, and its CV range will be made available across its global markets with a view to doubling its coverage and growing sales by 40%.
The wider range will include eight battery-electric vehicles – five of which will be in new segments – and platforms and components will be shared between Renault, Nissan, Mitsubishi and Daimler. Groupe Renault will also launch 12 “electrified” models by 2022, though that’s likely to include “Hybrid Assist” mild hybrids as well as plug-ins and full hybrid offers. Half of its range will be electrified, and 20% will be fully electric by that point.
Groupe Renault will also leverage R&D and economies of scale from its Renault-Nissan-Mitsubishi Alliance. There will be an €18bn investment in R&D during the course of the plan, backing 15 autonomous vehicles, a 100% roll-out of connected technology in key markets, and new offers such as ride-hailing and “robo-taxi services”, which will be available by 2022.
Renault chairman and CEO, Carlos Ghosn said: “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.”