Renault commits EUR3 billion for 8 new global models by 2027
Photo courtesy of Renault

Renault commits EUR3 billion for 8 new global models by 2027

Renault, the French automotive giant, unveiled its “International Game Plan 2027” in Rio De Janeiro, Brazil. The company has pledged an investment of EUR3 billion (USD3.17 billion) to introduce eight new models outside Europe by 2027. Notably, one in every three cars sold by then will either be electric or hybrid.

The upcoming models will comprise five C and D segment vehicles. Additionally, the B segment Kardian is set to debut in markets like Latin America and Morocco in the upcoming year. This model is the first among the eight to be announced.

To achieve this ambitious rollout, Renault will utilise two distinct platforms. The first is a novel modular platform from Renault, designed with flexibility and multi-energy capabilities. This platform will cater to regions such as Latin America, North Africa, Turkey, and India. The second platform, known as the Compact Modular Architecture (CMA), will focus on the D and E segments. This initiative will be a collaborative effort with Chinese automaker Geely and will be based in South Korea.

By 2027, Renault aspires to double its net revenue for each unit sold outside Europe, in comparison to its 2019 figures. Fabrice Cambolive,CEO of Renault, expressed the company’s vision. “With our product renewal gaining traction in Europe, our aim is to expand the brand’s global presence. By 2027, we plan to launch eight new vehicles, leveraging a limited number of shared platforms across regions. This strategy will enhance our synergies,” he said.

The international modular platform will be assembled across four key industrial regions: Latin America, Turkey, Morocco, and India. This platform boasts a flexible architecture, allowing for a wide range of vehicle lengths, wheelbases, and rear units. It will also support various energy sources and powertrains, aiming for improved efficiency in consumption and reduced CO2 emissions.

Bruno Vanel, VP of Product Performance at Renault, highlighted the competitive edge of the new platform. He mentioned that the platform’s architecture would enable Renault to offer value-driven, efficient vehicles with relevant technologies to global customers.

Earlier Renault Group highlighted a significant 21% growth in its year-to-date revenue. This surge is attributed to the company’s disciplined commercial strategies and a robust product offensive in Europe.

For the first nine months of 2023, the Group’s revenue stood at EUR37.4 billion (USD39.5 billion), marking a 21.1% increase compared to the same period in 2022. The automotive sector contributed EUR34.2 billion (USD36.2 billion), up by 20.1%. Notably, the Group’s registrations globally rose by 10.9%, with a remarkable 21.3% increase in Europe.