RENAULT and Group Lotus have signed a memorandum of understanding (MoU) to study a number of areas of cooperation, including the joint development of an EV sportscar.
The Alpine and Lotus teams will conduct a comprehensive feasibility study for the joint engineering, design and development of an EV sportscar by leveraging the resources, expertise and facilities of the respective entities in both France and the UK.
Alpine and Lotus will also explore the development of a joint services offer combining their engineering expertise. A collaboration to leverage Alpine’s motorsport platform covering Formula One to Formula E and Endurance is also under study.
The move forms part of a new strategic plan unveiled by the French manufacturer aimed at shifting Renaults focus from “volume to value”.
From 2025 the business model will be pivoted to tech, energy and mobility aimed at moving the brand up the value chain although no news during the announcement on how this will affect dealers.
The strategic plan is structured in three phases:
- “Resurrection”, running up to 2023, will focus on margin and cash generation recovery,
- “Renovation”, spanning up to 2025, will see renewed and enriched line-ups, feeding brand’s profitability,
- “Revolution” from 2025 and onwards, will pivot the business model to tech, energy and mobility; making Groupe Renault a frontrunner in the value chain of new mobility.
Renault Chief Executive Luca de Meo said that as a value-driven organisation, the company will no longer measure its performance on market shares and sales but on profitability, cash generation and investment effectiveness.
He added: “The Renaulution is a profound transformation of our business model. We’ve set steady, healthy foundations for our performance. We’ve streamlined our operations starting with engineering, adjusting our size when required, reallocating our resources in high-potential products and technologies.
“This boosted efficiency will fuel our future line-up: tech-infused, electrified and competitive. And this will feed our brands’ strength, each with their own clear, differentiated territories; responsible for their profitability and customer satisfaction. We’ll move from a car company working with tech to a tech company working with cars, making at least 20% of its revenues from services, data and energy trading by 2030.”