Renault Group plans to invest more than 10 billion euros in France over the next five years to continue advancing electric vehicle production while also developing lower-priced, more affordable models.

Chief Executive Officer François Provost said the company will maintain the pace of electrification investment seen in recent years, as long as the social and political environment permits.

Over the past five years, Renault has already invested approximately 13 billion euros in France to transform its factories, production systems and supply chains to adapt to the electric vehicle transition.

The new round of investment is not a fresh start, but rather a continuation of expanding electric vehicle capacity on the existing foundation while further addressing the issue of electric vehicles still being relatively expensive.

Provost said one of the key priorities for future investment will be making cars cheaper.

For European automakers, this is becoming increasingly important, as competition in the electric vehicle market has gradually shifted from "whether products exist" to "whether prices can be accepted by more consumers."

Demand for electric vehicles in France has also strengthened noticeably in recent times.

In September, electric vehicles accounted for 42% of new car registrations in France, a record high.

Since the outbreak of the Iran war, rising fuel prices have further increased consumer interest in electric vehicles.

The recovery in demand is being reflected in production at Renault's French factories.

The company produced approximately 500,000 vehicles in France in 2025, and production is expected to grow by at least 25% in 2026, driven mainly by increased electric vehicle output.

This means Renault's current strategy is not simply directing more funds toward electrification, but rather attempting to solve two problems simultaneously: on one hand, expanding domestic electric vehicle production capacity in France; on the other hand, reducing end-user prices through scale expansion, improved manufacturing efficiency and product redesign.

For Renault, this also means the importance of domestic manufacturing in France is rising once again.

In recent years, the company has already converted some factories to electric vehicle production through large-scale investment, and if it invests more than 10 billion euros over the next five years, France will continue to serve as the core production base for Renault's electrification strategy.

Therefore, what is truly noteworthy about this round of investment is not just the amount exceeding 10 billion euros, but that Renault is advancing the focus of the next phase of competition from "completing the electrification transition" to "how to make electric vehicles cheaper."

If this strategy can be delivered, the company's future competitiveness in the European mass market will depend more on cost control and scale production, rather than product technology alone.