Renault Raises 2022 Margin Goal as Electric Line-Up Widened

Renault will boost annual revenue through 2022 to more than a previous target of 70 billion euros ($82 billion) and the operating margin will exceed an earlier prediction of 7 percent of sales as efficiency measures generate savings of 4.2 billion euros. With investments of 18 billion euros, the company will bring out 8 pure-electric and 12 hybrid models in the period, and develop 15 vehicles with autonomous features.

„We intend to remain the leading provider of mass-market electric vehicles,“ Chief Executive Officer Carlos Ghosn said Friday in Paris at a presentation of Renault‘s updated business strategy, dubbed Drive the Future. Battery-powered vehicles are „turning into a significant contributor to our performance,“ and „our vision is obviously now a profitable core business“ in the segment.