Finance
Renault to add cheaper batteries for affordable EVs, says CEO
Published by Global Banking & Finance Review®
Posted on September 8, 2025
1 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 8, 2025
1 min readLast updated: January 22, 2026
Renault will introduce affordable EV batteries and cut development times to compete with Chinese rivals, aiming for a 40% cost reduction by 2028.
MUNICH (Reuters) -French automaker Renault will introduce more affordable batteries for EVs and speed up development times for all models to better compete with Chinese rivals, CEO Francois Provost said Monday.
Speaking to journalists for the first time since his appointment as CEO in July, Provost said the company has benchmarked itself against Chinese players, and is cutting development times and aiming to reduce the cost of electric cars by 40% between 2023 and 2028.
"Next year, we'll have a second, LFP, battery across all existing Renault vehicles," he said, referring to lithium ion phosphate batteries that are cheaper than batteries containing cobalt.
"I don't know many non-Chinese manufacturers capable of doing this in Europe," added Provost during a press conference at the Munich autoshow.
Renault relies heavily on the European market for sales but is facing rising competition from Chinese automakers as they expand in the region.
Earlier it unveiled the sixth generation of its popular Clio hatchback at the show, its biggest overhaul in 13 years.
(Reporting by Gilles Guillaume; Writing by Makini Brice and Dominique Patton; Editing by Chris Reese and Lisa Shumaker)
Renault plans to introduce lithium ion phosphate (LFP) batteries, which are cheaper than cobalt-containing batteries.
Renault aims to better compete with Chinese automakers who are expanding in the European market.
Provost mentioned that few non-Chinese manufacturers in Europe are capable of matching the battery developments that Renault is pursuing.
The new LFP battery will be available across all existing Renault vehicles next year.
Renault unveiled the sixth generation of its popular Clio hatchback, marking its biggest overhaul in 13 years.
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