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]

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