April 10, 2024

Renault, the French automaker, announced on Wednesday plans to invest three billion euros in its global strategy until 2027. India is a major market outside of Europe.

The company has introduced a new modular system tailored to regions such as India, Latin America, and North Africa. The platform is designed to be adaptable and will include:

  • Customizations from a variety of vehicle sizes.
  • A diversity of energy sources such as E100 flex-fuel.
  • Advanced 48V hybrids.
  • Hybrid systems.

Renault plans to assemble the platform in India and other hubs.

 

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Renault has a market share of 1.5% in India’s passenger car industry.

The strategic shift of the company aims to double net revenue per unit outside Europe from 2019 levels by 2027. Renault is committed to delivering innovative and sustainable vehicles that meet regional customer preferences.

Renault’s Kardian is a compact B-segment SUV that will debut in Latin America, Morocco, and the Middle East. The Niagara Concept, an electric pickup powered by E-Tech technology, also showcases the potential of the platform for a world dominated by electric vehicles. Renault says it also conforms to the latest generation of electric and electronic architectures and meets current and future regulatory requirements.

Renault aims to sell one-third of its vehicles as electric by 2027.

Renault introduced the Compact Modular Architecture platform (CMA), created in partnership with Geely Holding Group, to strengthen its global presence. This platform is designed for high-end D- and E-segment vehicles and offers both two-wheel-drive and four-wheel-drive options. It’s often equipped with hybrid engines.

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In its 2027 International Game Plan for Renault, the company set ambitious goals in order to reduce emissions and introduce electric or hybrid vehicles on multiple overseas markets before 2027. Brazil and Turkey have begun the transition to electric cars with models like the Megane E-Tech.

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Two more strikes were then carried out: on October 23, at Stellantis Sterling Heights, Michigan plant, which makes the best-selling Ram 1500 pickup truck, and on October 24, at GM Arlington, Texas facility, which assembles the Chevy Tahoe GMC Yukon, and Cadillac Escalade.

Fain said that Ford would be facing a larger strike if they didn’t reach an agreement.

Ford knew what would happen on Wednesday if there was no deal. Fain stated in the video posted on X that “that was checkmate.”

According to Deutsche Bank analyst Emmanuel Rosner, the strike cost GM Ford and Stellantis approximately $2.1 billion before interest and tax in lost earnings as of October 23. GM pulled its earnings forecast this week after the strike muddied their outlook.

The S&P 500 has been underperforming GM and Ford shares since July. Stellantis shares are up 33% in the US so far this year.

What Bloomberg Intelligence says:

Ford’s tentative agreement with the UAW could increase its costs in the first year by over $900 million, based on an 11% rise in the year before. This would put additional pressure on efforts to improve the company’s mediocre profit.

 

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