Renault to invest €1bn in French EV production

It plans to double the production capacity for the Renault ZOE EV

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Renault plans to invest more than €1 billion (£0.87bn) for the development and production of electric vehicles (EVs) in France.

It will double the production capacity for the Renault ZOE EV, develop a new Alliance electric platform to create a second production site, triple its electric motor production capacities and introduce a new electric motor from 2021.

Chairman and CEO Carlos Ghosn said: “The acceleration of our investments in France for electric vehicles will increase the competitiveness and attractiveness of our French industrial sites.

“Within the framework of its Drive the Future strategic plan and with the Alliance, Groupe Renault is giving itself the means to maintain its leadership in the electric vehicle market and to continue to develop new sustainable mobility solutions for all.”