Renault (OTC:RNLSY) announced it will hold a unique event dedicated to the "electric mobility of today and tomorrow" from October 15th to 26th. It will be a very important event for the entire Renault Nissan (OTC:NSANY) Mitsubishi Alliance (OTC:MSBHF), and one of the first for the new CEO of Renault – Luca de Meo. Besides presenting its current EV lineup, Renault will show for the very first time a new all-electric crossover concept based on the all-new CMF-EV platform which has been developed for the entire Alliance.
eWays is all about Renault's electrification
As for BEVS, Renault has ZOE, Twingo Z.E., Kangoo Z.E., Master Z.E. and Twizy. On the PHEVs front, it counts on Captur E-TECH Plug-in Hybrid and Megane Estate E-TECH Plug-in Hybrid. For FCVs, it has Kangoo Z.E. Hydrogen. With HEVs, it has Clio E-TECH Hybrid, Arkana E-TECH Hybrid. Renault will deliver a small battery-powered SUV. And not one, but two emissions-free high riders that will arrive by 2022. The preview concept for one of them will be revealed during eWays in mid-October, an event that is centered around the Group's plans for electrification.
The electric SUV
The revealed vehicle won't be the final production version of the electric crossover, but a concept. It is unclear if it will be just a concept in theory or close-to-production preview. Judging by the design of the light cluster, it looks like Renault will break with its known style and go for something different for the eight EVs it aims to have in its range by 2022.
Renault's Europe positioning
The current position of the French brand in the EV segment in Europe is relatively strong, although the future will highly depend on the new CMF-EV platform, which will compete with other dedicated EV platforms like the Volkswagen (OTC:VWAGY) MEB. The German giant's new ID 4 electric SUV can be compared to gas-powered compact SUVs, like the Ford Motor Company (NYSE:F) Escape, Honda Motor Company, Ltd. (NYSE:HMC) CR-V, and Toyota Motor Corporation (NYSE:TM) RAV4. VW has its eyes on a higher prize.
Dacia's affordable EVs also might play an important role in boosting Renault's sales volume as it makes its first steps into electrification.
Renault has increased its electric car sales in July by 98% YoY to 10,468. In August, the increase was 73% YoY to 7,047. Renault sold more than 60,000 EVs since the beginning of this unprecedented year whereas it sold over 61,000 in 2019 overall, which was its record year. This figure accounted for 6% of Renault's global passenger car volume and 3.7% of light commercial vehicles.
Partnership with Uber
Maybe Renault did not merge with Fiat Chrysler Automobiles (NYSE:FCAU) but it partnered with Uber Technologies (NYSE:UBER) to electrify its European fleet. They've signed a Memorandum of Understanding (MoU) to electrify Uber vehicles in the UK, France, the Netherlands and Portugal. The MoU didn't come out of the blue as Nissan and Uber already had a pilot partnership in the UK that both companies benefited from. Renault and Nissan will offer Uber drivers their EVs, both the existing Zoe and Leaf as well as future models. They will also launch joint marketing and education efforts to promote EVs to Uber's partner drivers.
Renault teased its customers asking if they are ready to electrify its lives. Meanwhile, the French automaker is set to entirely electrify its business model with its very own SUV. Tesla, Inc. (NASDAQ:TSLA) should be prepared – more EVs are coming.
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