Renault EV Partnerships Ahead Of 2030 Target
With the automotive world, in particular, turning to electrification, Renault has worked tirelessly on its EV partnerships which are ahead of schedule. The French automaker will control 80% of its EV value chain well in advance of its 2030 target for developing EV partnerships in batteries, electric motors and power electronics.
Strength In Numbers: The Secret To Success For Renault’s EV Partnerships
It’s common knowledge that Renault has been making a big push into electric vehicles and it is clear that the company is serious about meeting its 2030 targets. However, with exorbitant research and development costs, it is too high to do it solo which is why the automaker’s EV partnerships with other companies are so important.
Renault CEO Luca de Meo compared their EV partnerships to Apple’s business model when the tech company relied on various partnerships when it first ventured into smartphones. Now, it appears Renault is following a similar process by developing lasting relationships with companies in the battery, electric motor, and power electronics sectors.
On the company’s EV partnerships, De Meo stated: “Our old recipes are not enough anymore. The huge investments they (the shifts to electrification) require are not sustainable. We want to co-invest, co-develop and co-create.”
Could Renault’s EV Partnerships Rival Tesla And Volkswagen?
The most notable of Renault’s EV partnerships is its agreement with LG Chem to develop lithium-ion batteries. This partnership has enabled Renault to draw on LG Chem’s expertise in battery technology with ambitions to further increase the range beyond 400 kilometres (250 miles) as with the Renault Zoe 40.
Renault has also teamed up with several other companies to develop more powerful and efficient electric motors, including Robert Bosch. Another important collaboration is between Renault and Faurecia to develop better electronic systems that can manage all the functions of an electric vehicle.
With the strength of Renault’s EV partnerships, and by splitting its EV and combustion engine businesses, they could rival the likes of Tesla and Volkswagen in the race for zero-emission driving. According to Renault, they could reveal a more detailed blueprint for the new EV entity later this year.
The Future Of Cleaner Driving
All of these partnerships are important for Renault as it works to meet its 2030 target. With the help of its partners, Renault will be able to develop the technology needed to mass-produce electric vehicles that are more affordable, reliable and with better range.
Just three years ago, Renault controlled 10% of the EV value chain whereas today, that figure is at 30% with predictions that it would hit 80% well before the end of the decade. Alliance partners Nissan and Mitsubishi are yet to confirm their part in Renault’s future EV unit.
Nissan CEO Makoto Uchida has confirmed that they are continuing discussions on whether they will participate and if it’s through an investment or another form. If they decide to join Renault’s EV partnerships, the new EV entity could become the driving force of cleaner and more efficient cars.
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