Renault Group has announced the signing of two major partnerships: with Envision AESC – a global player in world-leading battery technology and smart, digitalised, low-carbon battery plants – and Verkor, the French start-up specialised in development of EV battery cells. Renault Group says this strategy will help it ‘become a more competitive and efficient EV player, accelerate its industrial transformation, and reach its ecological transition targets’.
Renault is also partnering with Envision AESC to develop a battery gigafactory in France with a capacity of 9 GWh in 2024 and with aim of reaching 24 GWh by 2030. As the battery arm of global green tech company Envision Group, it will invest up to €2 billion to produce latest technology, cost-competitive, low-carbon and safe batteries for electric models, including the future R5. Envision AESC forecasts 2,500 new jobs by 2030.
In addition, Renault has signed a Memorandum of Understanding to become shareholder of Verkor with a stake of over 20% in the company. The two companies intend to develop jointly a high-performance battery suitable for the C and higher segments of the Renault range, as well as for the Alpine models.
Luca de Meo, CEO of Renault Group, says: “Our battery strategy builds on Renault Group’s ten years of experience and investment in the electric mobility value chain. The latest strategic partnerships with Envision AESC and Verkor greatly bolster our position as we ensure the Europe-based production of one million electric vehicles by 2030. This marks a major milestone as we strengthen our competitive edge, by rooting our Group in the underlying momentum of French industry and striving to reach our carbon neutrality objectives. The Group thus reaffirms its willingness to produce popular, affordable, and cost-effective electric cars in France.”
Lei Zhang, founder and Chief Executive Officer of Envision Group, adds: “Envision Group’s mission is to be the net zero technology partner of choice for global enterprises, governments, and cities. We are therefore delighted that Renault Group chose Envision AESC batteries for its next generation of EVs. Investing to build a new gigafactory in northern France, we aim to support the net zero carbon transition by making high performance, longer range batteries and EVs affordable and accessible for millions more motorists. This first phase development will unlock future large-scale investment to grow the local supply chain and develop the whole life cycle opportunities of batteries, including energy storage, battery reuse, smart charging and closed loop recycling. It has the potential to create thousands of new high value green jobs as part of an end-to-end battery ecosystem in the region.”
Benoit Lemaignan, CEO of Verkor, states: “We are proud to be associated with Renault Group and look forward to delivering on our common vision of making e-mobility widely available, through this partnership. This is a major deal which demonstrates our progress along our roadmap to generate up to 50 GWh of battery cell production capacity by 2030 – a cornerstone in developing a competitive, sovereign and sustainable battery supply chain in Europe.”
Renault Group is aiming to achieving carbon neutrality in Europe by 2040 and worldwide by 2050, with EV sales making up 90% of all Renault brand sales by 2030.