Renault Group aims to be 100 percent EV brand in Europe by 2030

by Autocar Pro News Desk , 19 Feb 2022

The Renault Group’s 2021 financial results have been ahead of target and the group is upbeat about the 2022 outlook. In an environment still impacted by the semiconductor crisis, particularly in the first half of 2022 and by the increase of raw materials prices, the Group is aiming to achieve operating margin of 4 percent for the full year and automotive operational free cash flow of 1 billion euro.

The total loss of production in 2022 is estimated at 300,000 vehicles. Speaking on the Group’s target for this year, Luca de Meo, CEO of Renault Group said, "Renault Group largely exceeded its 2021 financial targets despite the impact of semiconductor shortages and rising raw material prices. This reflects the sustained pace of the in-depth transformation of the Group, initiated within the framework of Renaulution.”

Clotilde Delbos, CFO of Renault Group added that, " This performance is due to the early successes of the Group strategy, promoting value over volumes, and its strict financial discipline. It allowed us to achieve in a sustainable way, and one or two years in advance, some objectives of Renaulution.”

The Group confirmed its ambition in EVs with the objective for the Renault brand to be 100 percent EV in Europe by 2030. To this end, Renault Group is studying the opportunity to bring together its 100 percent electric activities and technologies within a dedicated entity in France to accelerate their growth. At the same time, it is also studying the opportunity to bring together its activities and technologies of ICE and hybrid engines and transmissions based outside of France within a dedicated entity, in order to strengthen the potential of Renault Group's technologies and know-how.

Tags: Renault

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