PARIS, March 10: French car manufacturer Renault Group said on Tuesday it plans to launch 36 new models by 2030 as part of its new futuREady strategy.
The company said it will accelerate technological roadmaps for all key technologies and set highly ambitious goals for operational performance, with the widespread use of artificial intelligence.
Over the medium term, Renault Group aims to generate consistently robust financial results, with an operating margin of between five per cent and seven per cent of revenue and an automotive free cash flow superior to or equal to €1.5 billion (US$1.7 billion) per year on average.
With futuREady, Renault wants to become the reference European carmaker at a global level.
The group plans to bring 22 new models to Europe, including 16 electric ones, and 14 models to international markets.
By 2030, Renault is aiming to sell over two million vehicles every year, half of them outside Europe, and achieve 100 per cent electrified sales in Europe and 50 per cent outside Europe.
Renault Group said its ambition is to compete with Chinese vehicle manufacturers in terms of cost and speed, with faster product development, based on a two-year cycle.
The group is planning to halve downtime in its factories and cut energy consumption by 25 per cent, for a 20 per cent reduction in production costs globally.
The carmaker said it will maintain a stable cash fixed-cost base over the medium term.
Research and development, capital expenditures and supplier entry tickets spending will remain below eight per cent of the group’s revenue, it said.
Renault said it is also continuing to reinforce expertise in partnerships, with India set to become a production and supply centre, serving both local and global markets by manufacturing a full range of Nissan models.
The group plans to build over 300,000 vehicles for five manufacturers by 2030 on three continents.
— BERNAMA-dpa