Shanghai (Gasgoo)- On the last day of October, Dongfeng Renault held its Vision 2022 media briefing. According to the vision, Dongfeng Renault will start local production of 9 models, including 3 electric vehicles. By 2022, the annual sales of the joint venture are expected to reach 400,000 units. The automaker will focus on SUV segment and meanwhile it will add more products in sedan segment.
Dongfeng Renault began its production in 2016. Compared with last year, the joint venture’s sales doubled this year. By October 30, Dongfeng Renault’s YTD sales have exceeded 60,000 units and it realized its annual sale target two months ahead of schedule. The company expects the annual sales will be as much as 70,000 units this year.
What’s more, Dongfeng Renault will expand its network to 400 dealers in China. Currently, it has 170 dealers across the country and the number will be expanded to 200 by the end of this year. In the next five years, the number of the dealers will be doubled.
In July, Renault announced a new commercial vehicles partnership with China’s Brilliance. In the coming five years, Renault’s joint venture with Brilliance will join hands with Dongfeng Renault to grab more market shares in China. In 2022, Renault-Brilliance joint venture is expected to deliver 150,000 units.
Carlos Ghosn, Chairman and CEO of Groupe Renault said at the media briefing that China is the largest auto market in the world and will be the leader in future mobility and that’s why Renault makes it the strategic priority. Renault and Dongfeng will make full use of the advantages in sources, scale and technology on both sides.
On October 6, Groupe Renault announced its Drive The Future, a new six-year plan. According to the plan, the group should deliver annual revenues of over €70 billion, achieve a group operating margin of over 7% by the end of the plan, with a floor at 5%, and positive free cash flow every year.
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