Renault Announces Plans to Halve Electric Vehicle Production Costs by 2027

Renault Group has announced the launch of a plan for the transformation of its industrial base. The aim is to reduce production costs per vehicle by 50% for electric vehicles and 30% for internal combustion vehicles by 2027.

The plan will also contribute to cutting vehicle development times from three to two years.

The company's Industrial Metaverse will play a key role in the transformation, enabling it to accelerate its competitive advantage and reinvent vehicle production.

In 2023, the Metaverse has generated savings of €270 million for Renault, primarily through the deployment of predictive maintenance on installations. 

This plan is part of Renaulution, the strategic plan to make Renault Group a next-generation automotive manufacturer. 

Thierry Charvet, Chief Industry & Quality Officer, Renault Group, says: "Re-Industry is a 360° transformation plan. The aim is to build on our strengths and to gather speed in what we already do well, to reinvent our entire industrial base and attain the highest standards in excellence. This industrial transformation will make our base more agile, more virtuous and more competitive, while also enabling us to respond more quickly to customer expectations." 

Renault Group comprises four brands - Renault, Dacia, Alpine and Mobilize - offering sustainable and innovative mobility solutions to its customers.

Established in more than 130 countries, it has sold 2.1 million vehicles in 2022.