Renault will invest $3.2B to build eight new EVs in global re-launch
) announced Wednesday a substantial investment plan of 3 billion euros to introduce eight new vehicles and amplify electric vehicle sales in markets outside Europe. This move marks a big step in the company’s plans to re-launch the French car brand globally.
However, the recent loss of the Russian market, the second-largest for the group, due to the ongoing conflict following the Russian invasion of Ukraine, has intensified Renault's reliance on the European market. "As our product renewal is bearing fruit in Europe, we are now going to make the brand more global and more profitable," said Renault CEO, Fabrice Cambolive in a statement.Renault unveiled its first addition to the global vehicle lineup, the Kardian, a compact SUV crafted from the Dacia Sandero. The reveal took place in Brazil on Tuesday, a significant event considering Brazil's status as the second-largest market for the Renault brand, just behind France.
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