Groupe Renault has unveiled a major new strategic plan, the ‘Renaulution’ designed to spark the firm’s recovery and future growth, which will include a huge expansion in Renault’s electric vehicle range, an expansion of budget brand Dacia’s line-up - and the reinvention of Alpine as a fully electric performance brand.
The strategic plan has been devised by new company boss Luca de Meo, who has called it a “profound transformation” of Renault’s business model, with Group Renault’s focus shifting from maximising volume to increasing the value - ands profitability - of vehicles.
The Renaulution builds on the group’s ongoing recovery and growth plan, and will feature three phases. The ‘resurrection’ phase will run until 2023, and will focus on increasing the firm’s margins and cash generation while the ‘renovation’ phase, which runs until 2025, will include a focus on renewing the line-ups of the Group’s key brands, in order to boost profitability.
Once those goals are achieved, the ‘revolution’ phase will run from 2025 onwards, and will focus on switching the firm’s business model to a focus on “tech, energy and mobility”, with a focus on electrification and new mobility schemes.
This breaking news story is being updated. Check back for more details.
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