Renault enhances partnerships with Chinese clean-energy firms to strengthen electric vehicle aspirations
Renault Accelerates News Strategy to Compete with Tesla and Leading Chinese EV Companies
Renault, the French automaker, has announced a significant shift in its strategy to compete with industry leaders like Tesla and Chinese new energy vehicle companies. In 2023, Renault sold 2.235 million units globally, but the company is aiming higher with its focus on electrification.
Last year, Renault sold 270,362 electric vehicles (EVs) and 185,666 hybrid vehicles in Europe. The company's all-new Dacia Spring, produced by a joint venture with Dongfeng Motors, Renault, and Nissan (eGT), surged into the top three in European EV sales. The Dacia Spring's success is a testament to the partnership's strength and Renault's commitment to electrification.
Renault's corporate transformation strategy focuses on five major areas, including the all-electric vehicle brand Ampere. Ampere, an independent entity for Renault's electrification strategy, plans to complete vehicle R&D within two years, contrasting with the typical four-year process in Europe. By 2031, Ampere aims to produce approximately 1 million EVs for Renault.
To strengthen its position, Renault is forging partnerships with key players in the industry. The company has supported the Chinese battery company Envision AESC, together with Chinese partners, to enable battery production for the Renault 5 E-Tech in France. This collaboration involves Envision AESC, which is backed by Chinese investment and technology, to establish and operate battery cell manufacturing in France. Renault's local battery production for the European market is linked to this partnership.
Renault also has important collaborations with Contemporary Amperex Technology (CATL) and Sunwoda Electronic (SEVB) for battery development. The company is exploring a new business model based on R&D, partnerships, and ecosystems.
In addition to these partnerships, Renault has two major projects with Geely. A Korean project is launching in September 2024, and a joint venture to create a leading global powertrain technology company is in the works.
Renault's electrification strategy aims to be comparable to Tesla and leading Chinese new energy vehicle companies. The company's EV showroom in Paris showcases two compact pure electric SUVs: the Megane E-Tech and Scenic E-Tech. The Renault 5 E-Tech, a B-class EV, is scheduled to begin production in 2025, and AESC is constructing a gigafactory in France to produce batteries for the Renault 5 E-Tech.
However, Renault faces competition from Tesla and SAIC Motor's MG brand in the French market. The company's longstanding partnership with Dongfeng Motors, which has yielded notable achievements, is a key advantage. Renault's board of directors sees the Chinese EV market as undergoing a significant adjustment, but they may manufacture complete vehicles in China in the future.
With its focus on electrification, Renault is positioning itself to compete with the industry leaders and shape the future of the automotive industry. The company's commitment to R&D, partnerships, and ecosystems is a testament to its ambition and its determination to succeed in the electrified world.
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