Renault to invest 11 billion euros in electric vehicle development

Renault has announced plans to invest approximately 11 billion euros over the next five years to advance electric vehicle development and increase the availability of affordable electric models. CEO François Provost stated in an interview with France Inter that the investment aims to make electric cars more accessible to the mass market, provided the social and political environment remains favorable.

This follows a previous five-year period during which the company invested 13 billion euros to modernize its French factories and transition toward electric mobility. Renault expects its local production volumes to increase by at least 25% over the next twelve months, following a production of 500,000 vehicles in 2025.

The investment comes amid rising electric vehicle adoption in Europe. In France, electric vehicles accounted for 42% of new registrations in September. Across the European Union, electric vehicle sales reached record levels in the first eight months of 2026, with 1.64 million units sold, representing a 45% year-on-year increase.