Renault expects its electric and hybrid cars sales to double to 3,50,000 in 2021, as per sources in the know of the company operations. This will include 1,50,000 EVs and around 2,00,000 hybrid models. This could include the Renault and Dacia brands.
The shortage of semi-conductor chips, for EVs, could however affect the overall plans.
Under new CEO Luca de Meo, loss-making Renault has been trying to boost its profitability by reining in on the number of models it makes. It is also betting heavily on electric vehicles.
The aim is to have 30% of sales from fully electric cars and another 35% from hybrid models by 2025.
Already, its rival Germany’s Volkswagen is ramping up production and investments. Tesla too is gathering numbers. Volkswagen brand’s projection is for 4,50,000 electrified vehicle deliveries this year; and the wider Volkswagen company, including Seat and Audi, has targeted 1 million electrified vehicle deliveries in 2021.
Renault had developed electric cars earlier than many rivals, but others have moved ahead. UBS analysts said in a report this month that now Volkswagen and Tesla were emerging as the clear leaders in the category. Japan’s Toyota followed them. Carmakers selling fewer than 7,50,000 electrified cars per year, could be at a disadvantage in the longer run, it was reported.