GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
Renault to invest over €10 billion in France in EVs, affordable cars, CEO says - Finance news and analysis from Global Banking & Finance Review
Finance

Renault to invest over €10 billion in France in EVs, affordable cars, CEO says

Published by Global Banking & Finance Review

Posted on October 3, 2026

2 min read

· Last updated: October 3, 2026

Add as preferred source on Google

Renault to Invest €10 Billion in France for Electric and Affordable Cars

Renault's Commitment to Electric and Affordable Vehicles

Major Investment Announcement

PARIS, Oct 3 (Reuters) - Renault Group will invest more than €10 billion ($11 billion) in France over the next five years in electric vehicles and more affordable cars, Chief Executive François Provost said on Saturday.

CEO's Statement on Future Plans

"Over the last five years, we invested €13 billion in France to transform entirely our industrial footprint to bet on electric, and over the five coming years, if the social and political context allows it, we will re-invest more than €10 billion to continue pushing on electric and on making cars more affordable", Provost said in an interview on France Inter radio.

Electric Car Market Growth in France

Record Registrations and Market Drivers

Electric cars reached a record of 42% of new car registrations in France in September, with demand boosted by the spike in fuel prices since the start of the Iran war.

Production and Economic Impact

Increased Domestic Production

"The reality is that today, we produce in France, in the French plants, more vehicles than before. In 2025, we produced 500,000 cars in France. In 2026, we will produce at least 25% more thanks to the rise of electric vehicles," he said.

Currency Exchange Rate

($1 = 0.8887 euros)

Reporting Credits

(Reporting by Gilles Guillaume; writing by John Irish; Editing by Toby Chopra and Susan Fenton)

Key Takeaways

  • Renault to invest €10 billion+ in France over five years focused on electric and affordable vehicles, building on €13 billion previous investment
  • September EV registrations in France soared to about 42 %, propelled by high fuel prices, incentives, and models like the Renault 5 and Twingo
  • Renault’s French output rose—500 000 cars in 2025, with at least a 25 % increase expected in 2026 due to EV momentum

Frequently Asked Questions

How much will Renault invest in France for electric vehicles?
Renault will invest over €10 billion in France over the next five years to boost electric vehicle production and make cars more affordable.
What percentage of new car registrations in France were electric in September?
Electric cars accounted for a record 42% of new car registrations in France in September.
What has driven the demand for electric cars in France?
The demand for electric cars in France has been boosted by the spike in fuel prices since the start of the Iran war.
How many cars did Renault produce in France in 2025?
Renault produced 500,000 cars in France in 2025, with plans to increase production by at least 25% in 2026 thanks to electric vehicles.

Tags

Related Articles

More from Finance

Explore more articles in the Finance category