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:

Pin It

Comments

Recommended

Last year was probably Porsche’s best year ever in terms of sales. Their factory in Stuttgart delivered 237,778 cars in total, which represents a six percent increase compared to the...
by - March 26, 2017
Lamborghini has disclosed that it is looking into the possibility of releasing electric vehicles. With the Volkswagen Group revealing that it will be releasing electric vehicles within several years, there...
by - March 25, 2017
Daimler AG, through its Smart division, has disclosed that its two electric models, the Smart ForTwo and the Smart ForFour are now open for orders in Germany. Official market launch...
by - March 25, 2017
Lamborghini has officially offered clear proof that the Huracán Performante was able to set a new record at the Nürburgring Nordschleife with a time of 6:52.01 It was in early...
by - March 25, 2017
Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 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