Opening a new chapter in China: Renault shifts focus to all-electric cars
The coronavirus outbreak in Wuhan had forced the factory to shutter.
By PTI |
AFP
File Photo of 2018: Employees work on a vehicle assembly line at a Renault factory, in Maubeuge, northern France.
PARIS: French automaker Renault said Tuesday that it would start building only electric vehicles for China's huge passenger car market, dropping conventional internal combustion engines as well as its joint venture with local manufacturer Dongfeng. The strategy shift comes after years of sluggish sales in China, where Renault hoped its 50-50 venture with Dongfeng, announced in 2013 and focused on a factory in Wuhan, would allow it to make inroads quickly.
But the coronavirus outbreak in Wuhan forced the factory to shutter, just as Renault was wrestling with slowing growth worldwide and a cashflow squeeze that has prompted ratings agencies to cut its credit ratings to "junk" status.
"We are opening a new chapter in China. We will concentrate on electric vehicles and light commercial vehicles, the two main drivers for future clean mobility," Renault chairman for China operations, Francois Provost, said in a statement.
The automaker will transfer its stake in the DRAC venture to Dongfeng, which will stop marketing the Renault brand. No financial details of the transaction were disclosed.
To bolster its all-electric push, Renault said it will "reinforce" its eGT venture, also formed with Dongfeng as well as Renault's Japanese alliance partner Nissan, to further development of its City K-ZE model, a low-cost crossover vehicle that Renault plans to launch in Europe next year.
File Photo of 2016: An employee works at a Renault assembly plant in Wuhan, Hubei province, China.
It said 860,000 electric vehicles were sold in China last year, making it the largest market in the world -- though they were still just a small fraction of the 25 million vehicles of all types bought.
Renault sold just 180,000 cars, both traditional and electric, in China in 2019, down from 217,000 the previous year, and representing less than one percent of the overall market.
It said electric vehicles are forecast to account for 25 percent of the Chinese market by the end of this decade.
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Renault chairman Jean-Dominique Senard said this month that he hoped to get up to five billion euros ($5.5 billion) in loans guaranteed by the French state to help the automaker weather the coronavirus crisis, which has seen sales nearly grind to a halt in affected markets.
Going Green: Top Electric Cars In India For Environmentally-Conscious People
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With pollution on the rise in many cities in India, these electric vehicles are a solution to the problem for people who care about the environment.
With pollution on the rise in many cities in India, these electric vehicles are a solution to the problem for people who care about the environment.
Environment Minister Prakash Javadekar arrived for the winter session of Parliament in an electric car recently. He told a news agency that the government was gradually switching to pollution-free cars. He urged people to also do likewise or use public transport.
These are the cars in India which are fully electric.
Environment Minister Prakash Javadekar arrived for the winter session of Parliament in an electric car recently. He told a news agency that the government was gradually switching to pollution-free ca..
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This was the car that Javadekar chose to make his entry for the Parliamentary session in. The car has a 134hp permanent-magnet synchronous electric motor. This is powered by a high-voltage 39.2 kWh advanced lithium-ion polymer battery. The car can do a maximum range of 452 km on a full charge. The battery can be fully charged in seven to eight hours using standard charging. Fast charging of the battery can go to 80 per cent in 54 minutes.
This was the car that Javadekar chose to make his entry for the Parliamentary session in. The car has a 134hp permanent-magnet synchronous electric motor. This is powered by a high-voltage 39.2 kWh a..
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With a 21.5 kWh battery pack, the car can do 213 km on a single charge. The car has two charging ports for fast charging and slow AC charging. Bihar Chief Minister Nitish Kumar was seen using the car to arrive for the Monsoon session of the state assembly. He had praised the vehicle's design as well as its lack of sound. He called it comfortable back in July.
With a 21.5 kWh battery pack, the car can do 213 km on a single charge. The car has two charging ports for fast charging and slow AC charging. Bihar Chief Minister Nitish Kumar was seen using the car..
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The car can do 140km on a single charge with its electric motor and a 72V lithium-ion battery pack. The battery can be fully charged in one hour and 45 minutes using a fast charger. With a regular charger, it takes about eight hours to charge. The e-Verito's top speed is 86 kmph. It is available in three variants.
The car can do 140km on a single charge with its electric motor and a 72V lithium-ion battery pack. The battery can be fully charged in one hour and 45 minutes using a fast charger. With a regular ch..
