Renault is betting big on electrified cars, aiming for 40% of sales. Details here

Renault predicts that in 2022, electric and hybrid cars will make up 40 percent of the automaker’s total sales in Europe.

Renault aims for a significant increase in sales of electrified cars in the European market in 2022. The French car giant expects fully electric and hybrid vehicles to account for around 40 percent of the brand’s total sales in the European market this year. This is part of the brand’s strategy to transition from internal combustion engine vehicles to electric vehicles.

(In the pictures: The Renault R5 TURBO 3E Concept is an all-electric hot hatchback)

Fabrice Cambolivet, chief executive of Renault, said ahead of the upcoming Paris motor show that in Europe the carmaker is well placed to manage the planned transition to electric cars by 2030. He also said that fully electric and hybrid cars in 2022 over the past two years almost doubled as a percentage of Renault’s European sales. He also added that orders for new cars have fallen across Europe, and almost all car manufacturers are facing this crisis. The reason for this is rising inflation. “For several months, we have seen a drop in orders on a European scale by about 20%,” said Renault’s CEO.

Reuters reports that electrified vehicles, including both fully electric and hybrid models, will account for about a quarter of Renault’s European sales in 2021 and about a third in the first half of 2022. The automaker is currently facing a lot of pressure with electrification. Tesla and several Chinese automakers, along with the old heavyweights Volkswagen and Stellantis, are increasingly focusing on electric vehicles and bringing new products to market. The French automaker is now betting big on its electric Megane and two other small models, the new Renault 5 and Renault 4.

The report claims that Renault needs to outline its strategy for a new wing that will focus on electrification and software. There will also be a separate division that will specialize in the production of vehicles with internal combustion engines.

Date of first publication: October 17, 2022, 4:30 PM IST