Renault plans lineup rich in EVs as fuel prices surge

Group 1 - Renault SA plans to introduce 16 out of 22 new vehicles in Europe by 2030 as fully electric cars, aiming to align with the increasing consumer demand for EVs amid rising gasoline prices [1][2] - The company is facing pressure to improve sales due to heightened competition from Stellantis and Chinese manufacturers like BYD, with its shares down approximately 20% this year [2][3] - EV registrations in Europe increased by 14% in January, while plug-in hybrids saw a nearly 33% rise, indicating a potential recovery in the market [3] Group 2 - Renault's CEO, Francois Provost, is focusing on enhancing efficiency and agility to compete with Chinese rivals, including a partnership with Geely to expedite model development in markets like South Korea and Brazil [4] - The company has reaffirmed its medium-term operating margin target of 5% to 7% and aims for automotive free cash flow of at least €1.5 billion annually, while planning to reduce variable costs per vehicle by approximately €400 [5] - Renault intends to maintain a strong presence in Europe while expanding in Latin America and India, with a commitment to producing competitive, desirable products in Europe [6]