Renault to invest 5.7 billion euros its industrial sites

Article by Christian A., on February 6, 2011

About EUR5.7 billion ($7.89 billion) would be invested by Renault S.A. in its industrial sites. A large part of this investment is headed overseas to take advantage of growth in increasingly important emerging markets.

Renault, which is expected to announce growth targets when it gives it strategic plan on Feb. 10, 2011, said that only two-fifths of the investment between 2010 and 2013 would be in France, and that it anticipates a lasting decline in the European auto market.

The carmaker added that it will continue to invest abroad, particularly in India, Brazil and Russia, as the carmaker aims to generate 43 percent of sales outside Europe in 2011, compared with 37 percent in 2010.

In a recent statement, Renault said that forecasts for 2016 do not see the European auto market returning to its pre-crisis level of 2007.

However, the non-European market is expected to expand by nearly 50 percent from 2010 to 2016. In 2012, Renault plans to start production at its Tangiers, Morocco plant, making 30 vehicles per hour.

In 2013, a second production line will start, providing entry-level vehicles for Africa, Europe, the Middle East, and Mexico. [via autonews - sub. required]

Topics: renault, investment

If you liked the article, share on:

Comments

Recommended

J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries