Paris [France], October 4: Renault Group (RENA.PA), will invest more than €10 billion ($11 billion) in France over the next five years in electric vehicles and more affordable cars, Chief Executive François Provost said on Saturday, Reuters reported.
"Over the last five years, we invested €13 billion in France to transform entirely our industrial footprint to bet on electric, and over the five coming years, if the social and political context allows it, we will re-invest more than €10 billion to continue pushing on electric and on making cars more affordable", Provost said in an interview on France Inter radio.
Electric cars reached a of 42% of new car registrations in France in September, with demand boosted by the spike in fuel prices.
Source: Emirates News Agency