Saturday, July 13, 2024

Renaut targets to control 80% of the supply chain for its electric vehicles by 2030

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Renaut targets to control 80% of the supply chain for its electric vehicles by 2030. To meet this target, the French manufacturer is developing partnerships in batteries, electric motors and power electronics, its chief executive said Thursday.

Luca de Meo refers to Apple relying on various partnerships when it first ventured into smartphones. This is done because the research and development costs are too high to run alone

“Our old recipes are not enough anymore. The huge investments they (the shifts to electrification) require are not sustainable,” de Meo told the Auto Motor and Sport congress in Stuttgart, Germany.

“We want to co-invest, co-develop and co-create.”

Renault will separate its electric vehicle (EV) business and internal combustion engine business to catch up with competitors such as Tesla and Volkswagen in the new energy vehicle competition.

Three years ago, Renault controlled only 10% of the EV value chain. That figure is now at 30% and will reach 80% well before the end of the decade, de Meo said.

Alliance partners Nissan and Mitsubishi have not said whether they will take part in Renault’s future EV units.

Renault rumoured to sell off their stake in Nissan for EV Shift

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