Renault's New Strategic Blueprint Aims To Transform Its Industrial Base For Sustainable Future
Renault Group has recently unveiled a detailed plan committed to revolutionizing its industrial base. The strategy primarily focuses on reducing manufacturing expenses and development duration while promoting sustainability and agility.
Renault Group’s official press note on Dec. 7, 2023, revealed its industrial transformation strategy, which is part of its broader “Renaulution” initiative. The objective is to diminish production costs for internal combustion and electric vehicles by 30% and 50%, respectively, by 2027 and to expedite vehicle development times from three to two years.
Thierry Charvet, Chief Industry & Quality Officer at Renault Group, termed the plan as a “360° transformation plan.” The plan is designed to metamorphose the company’s industrial base, enhance excellence, agility, and competitiveness, and align more closely with customer expectations.
The initiative also plans to innovate vehicle production and invigorate all traditional sectors of industrial performance while establishing new processes. As part of this ambitious plan, Renault Group aims to manufacture the future Renault 5 in just nine hours.
Moreover, the company is committed to reducing its environmental footprint. It hopes to slash vehicle delivery times by 60% and the carbon footprint of vehicle production by half, while also curtailing the energy consumption of its industrial sites by 20%.
The plan further accentuates the application of digital technology, with more than 300 operational applications of Artificial Intelligence already in operation, and targets to deploy 3,000 applications by 2025. These technologies are expected to facilitate the industrial introduction of new technologies, expedite vehicle production times, and enrich the user experience.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
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