Renault updated its electrification targets and completely stopped selling fuel vehicles by 2030

[News-Oxcart Network]

Recently, Renault CEO Luca de Mayo said that Renault has updated its electrification targets to increase the previous 90% of vehicle sales in 2030 to 100%. This means that by 2030, Renault will completely stop selling new fuel vehicles and completely transform into an electric vehicle brand in Europe.

Despite advancing the electrification target, Luca de Mayo still leaves room for this, saying that after 2030, if the charging infrastructure is insufficient or the price of electricity is too high, Renault may sell some fuel models through the Dacia brand. Of course, as a brand that has always been based on the "pursuit of profit" as its sales strategy, Dacia may also be electrified at the "last minute".

According to the new rules currently formulated by the European Union, by 2035, automakers may only be able to sell zero-emission new cars. Renault's updated electrification goals also echo the relevant new rules in the European Union, and Luca de Mayo said Renault has an obligation to actively participate in the process of "transitioning to carbon neutrality".

In 2013, Renault launched the first pure electric passenger car Zoe, after eight years, the second pure electric Megane E-Tech Electric was launched, according to the plan, by 2025, Renault will launch at least four pure electric models, including the compact SUV Renault 5.

In the first half of 2020, Renault lost $8.35 billion, a record loss. Newly appointed Luca de Mayo formally proposed a plan to get out of trouble in January 2021. In the first half of 2021, the plan began to show results, and the Group's operating profit margin reached 2.8%. Renault is understood to have cut fixed costs by 2 billion euros and is expected to reduce the break-even point by 30% in 2023.

Affected by multiple factors such as chip shortage and inflation, car companies are prioritizing the sale of more profitable models, and renault's car prices have fluctuated by 6%-7% in terms of car pricing. Luca de Mayo said Renault outperformed the market average in pricing.

As part of the Renault-Nissan-Mitsubishi alliance, Renault has always been committed to reaching a new cooperation trend with other two car companies, and the alliance can also effectively reduce the cost of enterprises, and in the future, more cooperation new products and new initiatives will be launched in the alliance. For Renault, turning losses into profits is still a top priority for the upward development of enterprises.