Renault (RENA.PA), opens new tab plans to sell half of its Renault brand cars overseas by 2030 and grow volumes by over a fifth, it said as it unveiled a five-year strategy aimed at remaining competitive in a tough global market. The French automaker is facing intensifying competition from low-cost Chinese players including BYD (002594.SZ), opens new tab and Chery (9973.HK), opens new tab as well as traditional rivals like Stellantis (STLAM.MI), opens new tab in its key European market, creating mounting price pressure that has eroded profit margins. Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here. Advertisement · Scroll to continue
Renault, the smallest of the legacy carmakers, said it would rely largely on in-house technology to develop competitive European products. And it will lean on partners like China's Geely (0175.HK), opens new tab to significantly boost its international sales in South America and South Korea. NEW MODELS, MORE SALES OUTSIDE EUROPE Renault plans 36 new models in the next five years, including 14 outside Europe, compared with just eight in the previous five years. It aims to sell more than 2 million Renault-brand vehicles per year by 2030, up 23% from 1.63 million cars sold in 2025. Half of those it aims to sell outside Europe versus 38% last year. Advertisement · Scroll to continue "We will show that we are here for the long term and we will become the benchmark for the European automotive industry on the global stage," CEO Francois Provost, who has led the automaker since last year, said in a statement. Renault is in better shape than five years ago, when heavy losses forced it to retreat from several overseas markets and cut thousands of jobs. But competition is heating up. And a pullback in support for electric vehicles in the United States under the Trump administration has triggered huge writedowns and abrupt strategic reversals at some rivals. Renault, which has no U.S. or Chinese presence, said it will continue to develop EVs, planning 16 pure electric models by 2030, or 44% of its planned models. It will also use its Horse Powertrain joint venture with Geely to develop a smaller engine for hybrids. Renault has leaned on hybrids to manage weaker-than-expected European EV demand.
