Renault to invest over €10 billion in France for EVs

Renault Group (EPA:RENA) plans to invest more than €10 billion ($11 billion) in France over the next five years to support electric vehicle production and more affordable cars, Chief Executive François Provost said on Saturday.

The French automaker invested €13 billion in France over the past five years to transform its industrial operations for electric vehicles. The new investment will continue this shift, Provost said in an interview on France Inter radio.

"Over the five coming years, if the social and political context allows it, we will re-invest more than €10 billion to continue pushing on electric and on making cars more affordable," Provost said.

Electric vehicles represented 42% of new car registrations in France in September, a record high. Demand has grown following higher fuel prices since the start of the Iran war.

Renault’s French plants are producing more vehicles than in previous years. The company manufactured 500,000 cars in France in 2025 and expects to produce at least 25% more in 2026 due to increased electric vehicle production, Provost said.