- Renault plans to sell only EVs in Europe by 2030.
- The company plans to release at least 4 EV brands by then.
CEO of Renault Luca de Meo has stated that the company plans to sell only electric vehicles in Europe by 2030. This announcement means that Renault has joined other automakers that have pledged a full transition to EVs, including Peugeot, Fiat, Opel, and Ford. The announcement is coming off the heels of the European Union recent consideration of new rules that will limit new vehicle sales to zero-emission vehicles by 2035. In addition, the U.K. plans to ban the sale of fossil fuel vehicles by 2030.
In addition, the Fench carmaker recently launched its second battery-electric passenger car, the Megane E-Tech and is planning to release at least four other battery-electric models by 2025. While Renault has seen dwindling revenues of late, de MEO believes the transition to EVs will help turn things around as the development costs for new electric models have been cut by 40%, with development time reduced by 25%.