Leader of Renault, the automotive company, is progressing well in their role.
François Provost, the new CEO of Renault, has announced a strategic direction that prioritizes accelerated implementation. In a bid to stay competitive and tap into new markets, Provost is emphasizing speed and efficiency as key factors in the automotive industry.
Renault will continue to offer affordable vehicles for broad customer segments, especially under the Dacia brand. However, Provost aims to increase the gap between Renault and Dacia, ensuring that each brand maintains its unique identity.
One of the ways Renault plans to achieve this is by optimizing factors it can control, such as product quality, supplier relationships, and continuous improvements along the value chain. The company currently purchases around 70 percent of the parts for its European models in Europe and does not plan to reduce that share.
The new Twingo, set to be presented at the beginning of next year, is seen as a new benchmark within the company for future projects. Developed in just 21 months, the new electric Twingo is a testament to Renault's commitment to accelerated development and reduced risk. The next Twingo will be a full electric vehicle, aligning with the company's focus on electrification.
Meanwhile, the new Clio is larger than its predecessor and features up to 29 assistance systems. It is also available as a hybrid, reflecting Renault's commitment to offering a variety of powertrain options to cater to different customer needs.
Renault's new strategy also involves forming sustainable partnerships more strategically. The full acquisition of the previously jointly operated plant in Chennai, India, with Nissan, is an example of this commitment. The company also plans to expand its cooperation with Geely and other Chinese development partners for joint developments and efficiency in procurement.
The CEO did not provide any updates on the company's electrification plans. However, Provost's focus is on efficiency improvement and cost reduction, aiming for double-digit percentage cost reductions.
Size is less important, technology and speed are becoming more crucial in the automotive industry, according to Provost. The principle of "local for local" remains unchanged for Renault, as the company continues to prioritize its lineup and cater to broad customer segments, especially in Europe and South America, where it plans to focus more in the future.
Overall, Renault's new strategic direction under François Provost is aimed at accelerating model development, maintaining competitiveness, and expanding into new markets. The company's commitment to affordability, sustainability, and technology is evident in its new products and partnerships.
