PARIS – New Renault CEO Luca de Meo will revive some best-selling fashions from the model’s previous as electrical vehicles below a turnaround plan aimed toward bettering gross sales and repositioning the struggling automaker, two sources aware of the matter mentioned.
De Meo is because of unveil his strategy update on Jan. 14, which is predicted to give attention to the product ranges the corporate will wager on — together with a nod to Renault’s previous.
The loss-making French agency has already introduced 2 billion euros in value financial savings and job cuts in its bid to enhance margins and increase the group’s efficiency in an auto market hit laborious by the COVID-19 pandemic and below strain to provide cleaner automobiles.
De Meo, who has mentioned he wished to lean on the model’s French roots, will unveil an electrical model of the now-phased-out Renault 4 small vehicles launched within the early Nineteen Sixties, the 2 sources mentioned.
There may also be a revived, electrical model of one other standard Nineteen Seventies and Eighties mannequin, based mostly on the R5 or its successor the “Tremendous Cinq,” the sources added.
Renault declined to remark.
“Luca de Meo could be very targeted on the merchandise, and his technique plan can be too,” one of many sources mentioned.
Amongst different Renault manufacturers, the group may also current three new electrical fashions for the Alpine sports activities automotive model, the sources added.
One in all Renault’s challenges can be to create distinct identities for every of the manufacturers, which additionally embrace low-cost Dacia and Russia’s Lada.
The corporate has already indicated that it desires to give attention to a smaller variety of fashions and hone in on worthwhile merchandise, particularly within the compact phase, in addition to probably exiting some markets, reversing the worldwide push based mostly on volumes below former boss Carlos Ghosn.
Sources had beforehand instructed Reuters that well-known however slow-selling fashions such because the Espace minivan may very well be amongst those who are actually phased out.