Renault CEO Luca de Meo set new targets for the electrification of the brand in Europe at the annual general meeting. In 2025, the share of electrified passenger cars should be 65 per cent. By 2030, the goal is a share of at least 90 per.
“The Renault brand has the ambition to have the mix in Europe that is the greenest (…),” de Meo said at the AGM, which was held as an online event. Nevertheless, de Meo did not give an “end date” for the sale of internal combustion vehicles or even the targeted distribution of HEVs, PHEVs and BEVs.
By 2030, emissions from Groupe Renault vehicles sold in Europe (i.e. including brands such as Alpine or Dacia) are to be reduced by 65 per cent, but only by 35 per cent worldwide. This suggests that the French company still expect a significant hybrid share of new car sales in 2030.
Inevitably, the importance of combustion engines continues to decline. Also at the AGM, de Meo announced that Renault will not develop a new engine for the “last generation” of diesel vehicles. Instead, he said, an existing engine will be adapted. Renault develops and builds its own internal combustion engines, some of which have been supplied to other carmakers, including Daimler.
De Meo, who was brought in from Seat last year to help reorganise the brand, is reorganising the Group and cutting loss-making projects in the process. A completely newly developed diesel engine that is only meant for one generation of vehicles is unlikely to bring in the investment costs, so now the development of traditional engines is also being cut back.
In January, de Meo presented his new ‘Renaulution’ strategy. He wants to give the French carmaker a new business principle in three phases, turning away from volume production and towards greater value. Ten new electric models are to be released by 2025. The Renault 5 Prototype was a preview of another electric small car, but with some new models Renault wants to venture back into the C and D segments.
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