Renault CEO Luca de Meo has revealed that the automaker plans to revive some of its best-selling models of yore as electric vehicles. This, according to a report by Automotive News, is part of a turnaround plan to improve sales. The full scope of the renewed strategy will be announced on January 14.
Several sources familiar with the matter said de Meo is leaning on the brand’s roots, and he is presently “very focused” on introducing pure electric versions of the Renault 4 and Renault 5 compact cars. Renault has yet to formally acknowledge these so-called projects, so whether or not these cars will make it to production remains to be seen.
Other aspects of Renault’s turnaround plan include the unveiling of three new electric models for the Alpine sports car brand, and the possible discontinuation of slow-selling models like the Espace minivan. The company also has to reevaluate the identities for the low-cost Dacia and Lada brand.
To nip its loss-making streak in a bud, Renault has already announced 2 billion euros (RM9.9 billion) in cost savings and job cuts to improve margins. Moving forward, it will focus on developing fewer but more popular/profitable products, as well as potentially exiting some markets. The move will reverse the global sales offensive initiated by former boss Carlos Ghosn.
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