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Renault announces six-year growth plan

Date: 06 October 2017

Groupe Renault has announced a new six-year plan aimed at significantly enhancing its business and expanding its product range, including the release of new electric vehicles (EVs).

Drive The Future will build on the group's previous plan, Drive the Change, which resulted in record growth and operating profits, increased synergies through the Alliance with Nissan, empowered regions, an expanded product mix and leadership in zero-emission vehicles in Europe.

The new plan aims to deliver annual revenues of over £60 billion as well as align itself with the Groupe Renault vision: sustainable mobility for all, today and tomorrow.

Under the Drive The Future plan, Groupe Renault forecasts that unit volumes will grow by more than 40% to over five million units, compared with 3.47 million units sold in 2016, as the company expands its product range to include LCV and new zero-emission electric vehicles and builds on the success of its global access range.

The plan will also leverage R&D and global economies of scale from Renault-Nissan-Mitsubishi, the world's largest automotive alliance, while maintaining financial discipline and cost efficiency.

Renault chairman and CEO Carlos Ghosn said:"Groupe Renault is now a healthy, profitable company, looking confidently ahead. Drive the Future is about delivering strong, sustainable growth, benefitting from investments in key regions and products, leveraging Alliance resources and technology, and increasing our cost competitiveness."

Key elements of the plan include 21 new vehicles including three add-ons, accelerating opportunities in China with new strategic joint ventures in EV and light commercial vehicles (LCVs), as well as releasing 15 autonomous drive vehicles, eight pure electric vehicles and 12 electrified models. 

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