Renault wants half its cars to be electric or hybrid in 2022
PARIS (AP) -- French carmaker Renault says half of its models will be electric or hybrid by 2022 and it's investing heavily in "robo-vehicles" with increasing degrees of autonomy.
A strategic plan released Friday aims to boost Renault annual revenues to 70 billion euros ($82.2 billion) by 2022 from 51 billion euros last year, in part through an effort to double sales outside its traditional markets in Europe, notably in China and Russia.
The plans reflect the vision laid out last month by the Renault Nissan Mitsubishi alliance, the world's No. 1 carmaker by sales. Many of Renault's new aims depend on saving money through sharing platforms and development.
CEO Carlos Ghosn said Renault is aiming for 20 electric or hybrid models by 2022, more than half of its 39 models overall.