Renault has outlined plans to cut the cost of its electric vehicles by 40% by 2030 as part of a broader strategy to defend its position against intensifying global competition.
The French carmaker said the cost reduction will be central to its new five-year “futuREady” strategy, which combines a major international sales push with a wave of new models.
Chief executive François Provost said future EVs will use around 30% fewer parts, helping the brand close the cost gap with Chinese competitors that have built their business around simpler and more integrated electric powertrains.
In Europe, Renault plans to launch 12 new models between now and 2030. In the A- and B-segments, the brand will build on recently launched models including the New Clio, Renault 5 E-Tech electric and Renault 4 E-Tech electric, alongside the upcoming Twingo E-Tech electric.
In the C- and D-segments, which currently account for around 30% of Renault’s sales, the company said it is preparing a second wave of vehicles built on the new RGEV Medium 2.0 electric platform.
Designed primarily for European markets, the platform will offer extended driving range and 800-volt architecture enabling ultra-fast charging from 10% to 80% in as little as 10 minutes.
The modular platform will support a wide range of models from the B+ to D segments and accommodate saloon, SUV and MPV body styles.
It will also feature a centralised Software Defined Vehicle (SDV) architecture, enabling 90% of functions to be updated over the air and halving the time required to deploy new features.
Renault said the platform, which will be developed primarily in France, will reduce EV production costs by 40% compared with the current generation of electric vehicles.
Alongside its European focus, Renault will step up its expansion outside Europe as it develops electric powertrains alongside hybrid and internal combustion engine vehicles. Globally, the Renault, Alpine and Dacia brands will launch 36 new models over the next five years.