IT Home, October 4 — According to Reuters, François Provost, CEO of Renault Group, stated on Saturday that the company plans to invest over €10 billion (approximately RMB 75.728 billion at current exchange rates) in France over the next five years, with a focus on electric vehicles and more affordable, cost-effective models.
During an interview with France Inter, Proven stated: "Over the past five years, we have invested a cumulative total of €13 billion in France (approximately RMB 98.446 billion at current exchange rates) to completely transform our industrial footprint and fully commit to electrification; over the next five years, provided the social and political environment permits, we will invest over €10 billion more (approximately RMB 75.728 billion at current exchange rates) to further accelerate our electrification strategy and work to lower the barrier to car ownership by introducing more affordable models."
Due to a sharp increase in fuel prices, electric vehicles accounted for a record 42% of new vehicle registrations in France in September this year.
Provo said: "The reality is that we are currently producing more vehicles in our French factories than ever before. In 2025, our automobile production in France reached 500,000 units; and thanks to the explosive growth of electric vehicles, we expect our domestic production to increase by at least another 25% in 2026."