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Tag: Renault

  • Renault, Geely Ink Pact With Aramco For Engine Venture

    Renault, Geely Ink Pact With Aramco For Engine Venture

    Oil giant Saudi Aramco has agreed to take a minority stake in a new powertrain engine company that French car maker Renault SA and China’s Geely Automobile Holdings Ltd plan to set up jointly, they said on Thursday.

    Reuters reported in January that Aramco has been involved in advanced discussions to take up to 20% stake in a previously announced but still-unnamed Geely-Renault powertrain company that would develop and supply internal combustion engines (ICE) and hybrid technologies.

    They said on Thursday Geely and Renault are expected to retain equal equity stakes in the new independent entity, but did not disclose how much each would own and how much Aramco would invest.

    The new joint venture is aimed at developing more-efficient gasoline engines and hybrid systems at a time when the focus of much of the automobile industry has been on the capital-intensive transition to purely electric vehicles.

    “This partnership with Aramco will… give it a head start in the race towards ultra-low-emissions ICE powertrain technology,” Renault CEO Luca de Meo said in the statement.

    By carving out its internal combustion engine business, Renault plans to focus on electric cars, part of the French automaker’s broad restructuring that also involves overhauling its decades-old alliance with Nissan Motor Co.

    “Aramco’s entry brings to the table unique know-how that will help develop breakthrough innovations in the fields of synthetic fuels and hydrogen,” De Meo said.

    The deal would make Aramco the first major oil producer to invest in the car business, as the rise of electric cars threatens to cut demand for conventional fuels.

    Last year, Aramco announced a partnership with Hyundai Motor Co to study advanced fuels that could be used in hybrid engines to reduce CO2 emissions.

    For Geely, the deal with Renault extends its pattern of building partnerships to expand beyond China. Geely previously announced a hybrid gasoline engine development deal with Mercedes-Benz and holds a stake in the German automaker.

    The new company would have an annual production capacity of more than 5 million in

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  • Renault To Produce New Alpine Model At Dieppe Site

    Renault To Produce New Alpine Model At Dieppe Site

    French carmaker Renault will produce the new electric model of its Alpine brand at its Dieppe site in northern France, Chairman Jean-Dominique Senard said on Friday.

    “There was uncertainty over the future of that plant a few years ago and now thanks to the work of Renault’s teams…we will be able to really secure the future of that plant,” Senard said.

    Renault, Nissan, and Mitsubishi Motors on Thursday said they planned to deepen cooperation in electric vehicle (EV) production as their two-decade-old alliance positions itself to compete as auto markets switch to EVs.

    Senard also told France Inter radio that Renault hoped to hire a further 2,500 staff for its French factories.

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  • Renault To Produce New Alpine Model At Dieppe Site

    Renault To Produce New Alpine Model At Dieppe Site

    French carmaker Renault will produce the new electric model of its Alpine brand at its Dieppe site in northern France, Chairman Jean-Dominique Senard said on Friday.

    “There was uncertainty over the future of that plant a few years ago and now thanks to the work of Renault’s teams…we will be able to really secure the future of that plant,” Senard told France Inter radio.

    Renault, Nissan and Mitsubishi Motors on Thursday said they planned to deepen co-operation in electric vehicle (EV) production as their two-decade-old alliance positions itself to compete as auto markets switch to EVs.

    Senard also told France Inter radio that Renault hoped to hire a further 2,500 staff for its French factories.

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  • Qualcomm Inks Car Chip Deals With Volvo, Honda And Renault

    Qualcomm Inks Car Chip Deals With Volvo, Honda And Renault

    Qualcomm Corp on Tuesday announced deals to supply chips to automakers Volvo Group, Honda Motor Co Ltd and Renault SA, accelerating its push to partner with legacy automotive firms digitizing their product lines.

    The San Diego, California, company once known for its mobile phone chips has created a range of automotive offerings, from self-driving car brains to chips that operate digital dashboards and infotainment systems. But the chips are all aimed at the same goal of helping automakers transform their vehicles into rolling computers that can be updated over the air with paid upgrades that generate revenue for carmakers long after a vehicle has left dealer lots, a business model pioneered by Tesla Inc.

    At the Consumer Electronics Show in Las Vegas, Qualcomm said it has reached a deal with Geely Holding-backed brands Volvo and Polestar to use Qualcomm’s “Snapdragon Cockpit” chips and an operating system from Alphabet Inc’s Google in vehicles starting later this year.

    The deal will allow Volvo’s electric SUV to tap into hands-free use of Google Assistant and navigation with Google Maps

    The deal will allow Volvo’s electric SUV, which is to begin production this year, to tap into hands-free use of Google Assistant and navigation with Google Maps. The companies said that future upgrades will be sent out over the air.

    Qualcomm also said that Honda will start using its “cockpit” chips in vehicles that will hit roads in 2023. Qualcomm also said Renault has agreed to use its automotive technology, but did not give specifics of which chips or when vehicles using them would arrive.Qualcomm said on Tuesday that it has created a new chip and system for computer vision, which uses cameras on the car and artificial intelligence to help with safety functions like automatic lane control. The new “Snapdragon Ride Vision System” uses software from Arriver, which was part of Qualcomm’s $4.5 billion purchase of automotive technology firm Veoneer Inc last year.

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  • Renault Relatively Confident For 2022 Despite Some Chip Supply Worries

    Renault Relatively Confident For 2022 Despite Some Chip Supply Worries

    Renault is “relatively confident” about its business year but still sees some problems over chips supplies which it expects to be felt mostly in the first half of 2022, the French carmaker’s Chief Executive Officer said on Thursday.

    “We are relatively confident for 2022 but we know that it’s a volatile and uncertain world,” CEO Luca de Meo told journalists at a company event, adding that the carmaker’s restructuring efforts were running ahead of their schedule.

    Shares in Renault edged up after the publication of the comments midday on Wednesday and traded 3.9 % higher at 1231 GMT, topping France’s bluechip CAC40 index which was down 0.55%.

    Renault’s finance chief at the same event said that the carmaker was hoping to pay back as soon as possible the remainder of a 3 billion euros ($3.44 billion) loan backed by the French state, Renault’s biggest shareholder.

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    The company also said it would step up the ambitions to shift its core Renault brand towards e-mobility, targeting to produce a “100 % electric” fleet by 2030, from 90% previously announced.

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  • Renault India Announces Special Offers Across Range For The Festive Season

    Renault India Announces Special Offers Across Range For The Festive Season

    Renault India has announced special offers across its product range right in time for the festive season. These offers include maximum benefits of up to ₹ 1.30 lakh on select variants across the line-up. The company said that the offers can be availed while purchasing a new Renault vehicle during the festive period. The company has introduced the new RXT (O) variant on the Renault Kiger as part of the special offers as well, which is priced from ₹ 7.37 lakh onwards. (ex-showroom).

    The offers also arrive as part of Renault India’s 10th-anniversary celebrations. The automaker will be offering loyalty benefits of up to ₹ 1.10 lakh, which will be over and above the festive offers and benefits. Furthermore, the brand has rolled out 10 unique loyalty rewards to mark its 10 years in India. Other offers include gift vouchers worth ₹ 49,999, which are up for grabs every day.

    The entry-level Renault Kwid comes with benefits up to ₹ 40,000 along with special loyalty benefits of up to ₹   65,000. Customers also get an additional ₹ 10,000 cash offer on select 2020 made cars, and an exchange bonus of ₹ 10,000 under the relive scrappage program.

    The new Renault Kiger, on the other hand, comes with a special loyalty benefit of up to ₹ 95,000, along with a corporate discount of up to ₹ 10,000 or a special offer for rural customers. The popular-selling Renault Triber comes with benefits of up to ₹ 60,000, special loyalty benefits of up to ₹ 75,000, and a ₹ 10,000 bonus under the relive scrappage program. The Renault Duster gets maximum benefits of up to ₹ 1.30 lakh along with special loyalty benefits of up to ₹ 1.10 lakh and ₹ 10,000 worth of exchange benefits under the relive program. All models across the line-up get the buy now, pay in 2022 offer as well.

    More recently, Renault also announced that the Kiger subcompact SUV is the most fuel-efficient offering in its class with an ARAI-certified figure of 20.5 kmpl. This is for the 1.0-liter turbocharged petrol version of the car that packs 99 bhp and 160 Nm of peak torque. The motor is paired with a 5-speed manual and CVT options.

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  • Renault-Nissan Workers In India To Strike Over COVID Fears

    Renault-Nissan Workers In India To Strike Over COVID Fears

    Workers at Renault-Nissan’s car plant in southern India will go on strike on Wednesday as their COVID-related safety demands have not been met, a union representing the workers told the company in a letter on Monday. The strike threat at the plant in Tamil Nadu, jointly owned by Nissan Motor and alliance partner Renault, comes ahead of a court hearing over allegations from workers that social distancing norms were being flouted and factory health policies did not sufficiently address the risk to lives.

    “Due to unsafe working conditions and as the union demands have not been met … members of this union will not report to work from the first shift on Wednesday,” the union said in a letter dated May 24. The letter added that workers would not return until they felt safe.

    The union represents around 3,500 workers at the plant.

    Nissan, which owns a majority stake in the plant, declined to comment, saying the matter was in court.

    Renault-Nissan told an Indian court last week it rejected claims that COVID-19 safety protocols were being ignored at the factory, adding it needed to continue production to meet orders.

    The legal battle highlights the challenges companies face in India amid a huge wave of COVID-19 infections.

    Several Hyundai Motor Co employees, fearing for their health, have halted work at the automaker’s plant in Tamil Nadu state and are staging a sit-in protest, two sources at the Hyundai Motor India Employees Union told Reuters.

    Hyundai Motor India did not immediately respond to a request for comment.

    The legal battle highlights the challenges companies face in India amid a huge wave of COVID-19 infections.

    It was not immediately clear how long the protest would continue and the extent of production disruption for Hyundai.

    Tamil Nadu is one of the worst-hit states of India’s surge in COVID-19 infections, with more than 30,000 cases a day.

    The state, an auto hub known as India’s Detroit, has imposed a lockdown until May 31 but has allowed some factories, including auto plants, to continue operating.

    Hyundai’s union told the company on May 15 its workers feared for their lives and should be given fully paid leave while the state lockdown is in place.

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  • Renault Introduces New Nouvelle Vague Brand Strategy

    Renault Introduces New Nouvelle Vague Brand Strategy

    Renault is gearing up to give it’s brand a new direction. The French carmaker has adopted “Nouvelle Vague” strategy targeting to maximize its number of electrified vehicles by 2030 in a bid to move towards sustainable development. More than 2000 engineers from five companies will work on cybersecurity, artificial intelligence, data processing, software, and microelectronics. Then, Renault’s Re factory in Europe will recycle or upcycle up to 1.20 lakh units every year. Nearly 80 percent of those recycled materials will be reused in new batteries.

    By 2030, Renault is targeting to become world’s best automotive manufacturer when it comes to the percentage of recycled materials in new vehicles. The company will also introduce seven electrified models in C and D segments. It has also unveiled the new Arkana coupe SUV that marks and the new-generation Megane E-TECH Electric. The company has also announced that the E-TECH Hybrid technology will continue to power upcoming C and D segment vehicles. Renault has been leading in the EV segment in Europe with almost 4 lakh vehicles sold to date. In Europe, France, Spain, Italy, Germany, and the United Kingdom – will continue to be its key markets. The company will also try and increase local dominance in Brazil, Russia, Turkey, and India.

    The brand has also unveiled its new logo and the Megane will be the first model to wear it. The latest iteration was created in 1992 and Renault felt that it began to look a little dated, even though it was reworked in 2015. The new brand logo adores a streamlined design, with neither typogram nor brand signature. The new logo is an open-ended shape and Renault says that it reflects the brand’s openness and transparency. It was co-designed with Landor & Fitch consultants and will be phased in on all Renault brand vehicles and across the Renault network. By 2024, the entire Renault range will sport the new logo.

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  • Renault To Partly Idle Spanish Plants Until End Of September Over Chip Shortage

    Renault To Partly Idle Spanish Plants Until End Of September Over Chip Shortage

    French carmaker Renault has started negotiations with unions to extend the partial idling of three of its four factories in Spain until the end of September as a preemptive measure in case a global semiconductor shortage lingers. Carmakers around the world have been impacted by the shortage of chips used in engine management and driver-assistance systems, which come mainly from Asia, especially Taiwan.

    Renault had already partly idled its Spanish plants in response to the shortage, on the expectation that chip supply would return to normal in the second half of the year.

    It is now proposing further stoppages at factories in Palencia and Valladolid for a total of between 31 and 39 days, a company spokesman said on Tuesday, as a precautionary measure in case the shortage extends into the third quarter.

    That would involve putting up to 9,000 workers on furlough, he said. The actual idling will depend on future chip supplies.

    The UGT union said in a statement Renault intended to cease output at the factories at its key European production hub for one to three days a week between April and late September.

    The COVID-19 crisis has driven up demand for chips used in consumer electronics such as laptops and phones, and manufacturers are struggling to keep up.

    Some Chinese suppliers have also been hit by U.S. sanctions imposed under former President Donald Trump.

    Renault is due to disclose first-quarter revenues next week and may update its sales projections. The company at this point expects it may sell 100,000 fewer cars in 2021 because of the chip shortage, a spokesman reiterated on Tuesday.

    The group said last month it would start producing five new hybrid SUV models in its “second home” Spain in 2022-2024.

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  • Groupe Renault And Faurecia Collaborate On Hydrogen Storage Systems

    Groupe Renault And Faurecia Collaborate On Hydrogen Storage Systems

    Faurecia and Groupe Renault today announced their decision to collaborate on hydrogen storage systems for hydrogen light commercial vehicles. Starting at the end of 2021, Faurecia will supply hydrogen storage systems for a first fleet of light commercial vehicles. These systems will be developed and produced at its global centre of expertise in Bavans, France. As volumes, increase production will be extended to a new plant dedicated to hydrogen storage systems that Faurecia is building in Allenjoie, France.

    Faurecia will supply hydrogen storage systems for a first fleet of light commercial vehicles.

    Mathias Miedreich, Executive Vice President of Faurecia Clean Mobility said, “Fuel cell electric vehicle technology is set to become significant in the powertrain mix by 2030, and as such Faurecia is dedicating important resources to accelerate its deployment.”

    This collaboration on hydrogen storage systems is embedded in Renault’s strategy to offer market-ready H2 solutions for light commercial vehicles and target over 30% share of this market in Europe.

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  • Renault Kiger Subcompact SUV India Launch Details Out

    Renault Kiger Subcompact SUV India Launch Details Out

    It was just yesterday that we told you about Renault India commencing the production of the Kiger at its Chennai facility and now the company is all set to launch the car in the country. Renault announced that it will launch its first subcompact SUV – the Kiger- in India on February 15. Renault has already despatched the cars to its 500 dealerships across the country so that consumers can take a look at the car. The company has said that deliveries of the car will begin from March.

    India is the first market to get the Kiger and will also be the base for the production of the car. Renault India is looking to export the car as well from India just like the Kwid and Triber. The Kiger is based on the CMF-A+ platform that has been co-developed by Renault and Nissan. The new Renault Kiger builds on the concept version that was showcased last year and nearly 80 percent of the design theme has made it to production as the automaker promised.

    The subcompact SUV sports a more dynamic design language right from the split LED headlamps to the bold grille with the LED DRLs covering the front face. The model continues to sport pronounced wheel arches that accommodate 16-inch steel and diamond-cut alloy wheels, depending on the variant. The arches at the rear are particularly flared and also incorporate the C-shaped LED taillights with the signature pattern.

    Under the bonnet, the new Renault Kiger will use the same engines like the Nissan Magnite. Renault has confirmed 1.0-litre turbocharged petrol with 98 bhp and 160 Nm of peak torque. There will also be the 1.0-litre three-cylinder, naturally aspirated petrol available with 71 bhp and 96 Nm of peak torque. The engines will be paired with a 5-speed gearbox, while the automatic options will include an AMT as well as a CVT.

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  • Renault & Lotus Team To Electrify Alpine Brand

    Renault & Lotus Team To Electrify Alpine Brand

    The Alpine brand is already being re-energized as a halo sports car brand by Renault with the rebranding of its works F1 team as Alpine. Now it is teaming up with Lotus to create an all-electric Alpine car. Lotus and Renault are no strangers as Renault acquired what was the Lotus F1 team which later this year will again be rebranded to Alpine.

    This time around the intent is to create the successor to the Alpine A110 in an electric avatar. This one was announced late last week by Renault and Lotus – when both the manufacturers announced that they signed an MoU. “The signing of this MoU with Lotus shows the lean and smart approach we’re implementing as part of the new Alpine brand strategy. Both brands have an amazing legacy and we are most excited to start this work together, from engineering tailored solutions to developing a next-generation EV sports car,” said the two companies in a statement.

    The Alpine A110 has been an iconic vehicle since 1963 and the teaser also points towards the vehicle retaining its iconic design language. The A110 will be the first such electric vehicle but there are six more in the works. Renault at its Renaulution event even showed off an electric version of a car which is being called the Renault 5.

    Renault isn’t the only one all in on EVs. Like most of the auto industry, even Lotus is taking a radical approach towards electrification. It has been developing its Evija hypercar which costs $2 million. It has a 2,000 bhp all-electric powertrain which will come by 2025.

    This partnership clearly has a lot of synergies as the revival of the Alpine brand and the rebrand of the F1 project comes with the intent of creating a virtuous cycle between the popularity of the F1 team driving sales of Alpine cars which would further fuel the F1 project. It also helps that the F1 team was till 2015 the Lotus F1 team.

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  • Renault Finalises 5 Billion Euro State-Backed Loan

    Renault Finalises 5 Billion Euro State-Backed Loan

    Renault finalized on Wednesday a 5 billion euro ($5.60 billion) loan from with the French government, strengthening the carmaker’s finances in the wake of the coronavirus pandemic which has ravaged the auto industry.

    Renault said that the credit facility carried a guarantee from the French state – which owns a 15% stake in Renault – of up to 90% of the total amount borrowed.

    Renault has sealed a state-backed loan totaling 5 billion euros, sparking a big jump in its share price Wednesday.

    Banks BNP Paribas, Credit Agricole, HSBC France, Natixis, and SocGen were involved in the credit deal.

    Renault also said in a statement that the loan would help finance the company’s liquidity requirements.

    The carmaker announced last week plans to cut about 15,000 jobs worldwide, including 4,600 in France, where the company will seek voluntary departures and use retirement schemes.

    The announcement sparked weekend protests at some factories, including at Maubeuge in northern France, although Renault’s chairman Jean-Dominique Senard has pledged the site will not be closed.

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  • Renault Poised To Announce 15,000 Layoffs Worldwide

    Renault Poised To Announce 15,000 Layoffs Worldwide

    French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with faltering sales, a representative for the CFDT union said after meeting with the company.

    Some 4,500 jobs would go in France, though largely through a voluntary departure plan and a retirement scheme, the CFDT’s Franck Daout told Reuters on Thursday.

    The overall cuts would affect just under 10% of Renault’s 180,000 global workforces. The firm has around 48,500 staff in France.

    “They’ve insisted on the fact everything will be negotiated,” Daout said, adding that unions and state bodies would be involved in talks over potential job losses in France.

    Renault declined to comment. The carmaker’s board signed off on the plans to launch its cost-savings program on Thursday, a source familiar with the matter said.

    Renault and Nissan have set out plans to revive their alliance as they battle a global slump in sales.

    The French group, which is 15% owned by the government, had earlier this year flagged a looming “no taboo” plan to cut 2 billion in costs after posting its first loss in a decade last year.

    That raised concern for some of its factories, including in France, although closures could be politically sensitive.

    The French government has already said it will not sign off on a planned 5 billion euro state loan for Renault – an aid measure linked to the coronavirus pandemic – until management and unions conclude talks over the carmaker’s French workforce and plants in France.

    Renault’s plans to invest in and extend operations in Morocco and Romania are likely to be frozen

    The coronavirus crisis has compounded the company’s problems, accentuating a slump in demand that was already hurting sales.

    Renault’s plans to invest in and extend operations in Morocco and Romania are likely to be frozen, Les Echos newspaper reported on Thursday, while its worldwide production capacity could be cut by 4 million vehicles to 3.3 million.

    The restructuring follows a retrenchment by Japanese partner Nissan, which is closing some plants and planning to become smaller and more efficient.

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  • Renault Seeks State-Backed Loan As Coronavirus Crisis Drags On

    Renault Seeks State-Backed Loan As Coronavirus Crisis Drags On

    Renault is in talks with the French government to secure a state-backed loan worth several billion euros by mid-May to shore up its liquidity during the coronavirus pandemic, the French carmaker said on Thursday.

    Interim Chief Executive Clotilde Delbos said Renault, which is 15% owned by the French state, was lining up credit lines and aid when possible, including in France and emerging markets.

    “It is our duty to be on the safe side and to cover even black, black, black scenarios,” Delbos said on a call with analysts, adding that it was unclear how long the crisis would last and what impact it would have on earnings this year.

    She said, however, that Renault had enough liquidity to make it through the coronavirus turmoil, including covering a monthly cash burn of 600 million euros ($647 million) linked to the closure of its plants and dealerships during the health crisis.

    Renault quits main China venture after weak sales

    French automaker Renault is ditching its main passenger car business in China following poor sales at the loss-making venture with Dongfeng Motor Group. Ciara Lee reports

    The company had 10.3 billion euros of liquidity reserves at the end of March – including an unused 3.5 billion euro credit line – though that was still 5.5 billion euros lower than the end of 2019. The first quarter is traditionally a period when carmakers use cash to boost vehicle stocks.

    Renault shares were up 1.9% at 0903 GMT.

    Sales of Renault vehicles have been hit hard by the pandemic as governments enforce lockdowns around the world. Rivals have reported slumps in sales and some, such as Ford Motor Co. have also been beefing up their cash reserves.

    But the French carmaker was already struggling with faltering demand before the crisis, attracting scrutiny over its cash levels and financial position after posting its first loss in a decade in 2019.

    “Liquidity remains high in light of cost reduction but leverage concerns unresolved,” analysts at Jefferies said.

    Renault’s Japanese alliance partner Nissan posted its first quarterly loss in nearly a decade in February and the two are due to present plans to reboot their partnership in May, including industrial projects.

    Delbos said in February that Renault was embarking on a “no taboo” plan to cut 2 billion euros of costs which could include job reductions as it reviewed performance at factories.

    She said on Thursday there were no strings attached to the state-backed loan that would have implications for the plans, bar canceling dividend payouts, which it has already done.

    Few major French companies have yet tapped this form of state aid, barring consumer electronics retailer Fnac Darty. Air France KLM is also moving towards a government-backed rescue deal.

    Renault, which has suspended its outlook for 2020, posted a 19.2% drop in first-quarter revenue to 10.13 billion euros. It said it would look to resume production in Europe where possible and was cutting costs in areas such as advertising.

    Renault sold more cars in Russia than in its home market in the first quarter as demand slumped in Europe, the first time France has fallen from the top spot.

    The carmaker benefited slightly from selling more expensive SUV-style models such as the Renault Captur but this was not sufficient to offset tumbling sales volumes.

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