"We made up our minds to prepare the conditions for Renault to be a 100% electric brand by 2030," said Mr. de Meo.

One year after the presentation of his "Renaulution" plan, Luca de Meo took stock with journalists at the Technocentre Renault in Guyancourt (Yvelines).

The brand, the electric spearhead of the group, is launching this year an electric compact, the Mégane, and soon a modern version of its small Renault 5, both manufactured in the north of France.

"Dacia will follow, and its electrification will be consistent with a positive attitude which requires us not to increase prices", underlined Mr. de Meo.

One year after the presentation of his "Renaulution" plan, Luca de Meo took stock with journalists at the Technocentre Renault in Guyancourt (Yvelines).

Semiconductor supply problems will continue into 2022 but "the worst" will be in the first half of the year, de Meo said.

"It is concentrated on a few suppliers (...) We cannot hope that it will be resolved in the short term".

500,000 cars will not be produced because of the shortages, the leader confirmed.

The group has, however, succeeded in reducing its fixed costs by 2 billion euros per year "more than a year ahead" of its plan, said the CEO.

© 2022 AFP

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