Renault Plans More Than €10 Billion Investment in France for Electric and Lower-Cost Cars

Renault Group will invest more than €10 billion ($11 billion) in France over the next five years, chief executive François Provost has announced.

The investment will focus on electric vehicles and lower-cost cars, bringing both priorities into the group’s spending plans.

France is the location named for the five-year commitment, with the funding directed toward Renault’s automotive activities there.

The announcement did not specify how the investment would be divided between electric vehicles and lower-cost models, or identify individual projects.