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Bloomberg
Renault SA aims to cut the cost of its batteries by 60% over the next decade as the French carmaker ramps up production of electric vehicles in Europe.
Renault also plans to lower the costs of its electric motors by 30%, make them more compact and extend their range, the company said in a statement.
“The Renault brand aims to have greenest mix in the European market in 2025, with over 65% of electric and electrified vehicles in the sales mix and up to 90% battery electric vehicles mix in 2030,†the company said.
The struggling automaker is making a big bet on EVs and earlier this week unveiled plans to secure batteries for its future vehicles produced in France. China’s Envision Group agreed to spend $2.4 billion on a battery factory adjoining Renault’s plant in Douai.
Renault also plans to acquire a stake of slightly more than 20% in a French startup called Verkor for higher-performance power packs.
and could join a venture called ACC, spearheaded by rival Stellantis NV and TotalEnergies SE.