Published On: Tue, Oct 10th, 2017

Renault pushes for investments on Electric and Hybrid Cars

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Electric and hybrid carsRenault, a well-known French car manufacturer announced that by 2022 half of their cars will be electric and hybrid cars. They plan to finance heavily on hybrid and electric cars and target to increase revenues to 70 billion euros by 2022.

There is also a determination to amplify sales outside its traditional markets in Europe especially Russia and China.
Renault is aiming to make 2m cars per year outside Europe compared with 750,000 cars in 2016.
Renault-Nissan-Mitsubishi alliance, the world’s top car-maker by sales established a blueprint to focus more on hybrid and electric cars. Many of Renault’s new upcoming targets are to relay on saving money via sharing platforms and development with Mitsubishi and Nissan.
CEO of Renault, Carlos Ghosn plans to sell more than 5 million automobiles yearly by 2022 from 3.2m. The environmental hazards of 21st century has forced automobile industry to shift their focus on hybrid and electric cars as they are more environment friendly.

Ghosn aspires to place Renault as a major player in electric and hybrid car market.
Renault has vowed to offer eight purely electric vehicle models and 12 hybrid models by 2022, compared with its 19 diesel or gasoline models sold worldwide. According to Ghosn, Renault also plans to retrain 13,000 individuals in the coming years to keep in line with changing market trends.
Major car makers are rethinking their policies to profit from pivotal changes in the industry and climate change is the major factor in reshaping automobile strategy. Furthermore, the regulators are cracking automobile industry to control emissions from combustion.
The world seeks to fight the upcoming challenges of climate change and demand for low emissions vehicle like electric and hybrid cars have increased. Climate change indeed is a reality and fighting it is the need of the hour for sustainable development.
Renault is confident to counter these challenges and envisages that they can face the upcoming challenges into business opportunities of the future.

About the Author

- Junaid Ashraf has a Master of Philosophy degree in government and public policy. He has international publications through Taylor & Francis, a leading British publishing body. He regularly write columns for newspapers. His interests include international political economy, geopolitics and good governance. He writes for Asia Times.