Renault aims to achieve annual sales of over 2 million units by 2030.

Investing.com - Renault announced its goal to sell over 2 million Renault-branded vehicles annually by 2030 and outlined a strategy focused on expanding beyond Europe to address increasing competition in core markets.

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The French automaker plans to increase Renault brand sales by approximately 23% from 1.63 million in 2025. As part of this push, the company expects half of its Renault brand vehicle sales by the end of this decade to come from outside Europe, up from 38% last year.

To support this growth, Renault plans to launch 36 new models by 2030. Over the next five years, the company will introduce 22 models in Europe, including 16 fully electric vehicles and 14 additional models for international markets.

This strategy marks the first update since CEO François Provost took over from Luca de Meo last year. Renault stated it will seek to reduce the cost of electric vehicles while continuing to develop hybrid technology beyond 2030.

“We will prove that we are long-term players and will become a benchmark in the European automotive industry on the global stage,” Provost said.

Despite lower-than-expected demand for electric vehicles in Europe, the company remains committed to electrification. By the end of this decade, fully electric vehicles are expected to account for about 44% of Renault’s planned lineup.

Meanwhile, Renault will continue investing in hybrid systems. Through its joint venture Horse Powertrain with Chinese automaker Geely, the company plans to develop smaller engines for hybrid vehicles to rely on hybrid models in response to weak electric vehicle demand.

Renault said it will mainly develop products for the European market using internal technology, while collaborating with partners like Geely to expand its business in markets such as South America and South Korea. The company currently has no operations in the U.S. or China.

Looking further ahead, Renault is developing a new electric platform scheduled for launch in 2028, which will include an extended-range option using a small gasoline engine to boost range to 1,400 kilometers.

The automaker will also unveil two new vehicles on Tuesday: the Bridger, a compact SUV aimed at the Indian market, and the Dacia Striker, a crossover designed to compete with Volkswagen Group’s Skoda Octavia. These models will be showcased at Renault’s R&D center outside Paris.

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