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The French automaker said on Thursday, Dec. 7, that the discounts would run until 2027.
It aims to reduce the prices of internal combustion engines by 30% and part of electric vehicles.
Renault is moving towards an “industrial transformation”.
The automaker further said the cost cuts would make the firm more agile and competitive.
Renault also announced that it will manufacture 4 new models at its Bursa in Turkey.
Thursday’s update comes the same week that alliance partners Nissan and Mitsubishi announced plans for electric vehicles.
The auto giants said they would invest in Renault’s EV unit Ampere, and use it to develop electric vehicles for the European market.
HISTORY: Renault plans to produce prices consistent with the vehicle.
The French automaker said on Thursday (Dec. 7) that the discounts would run until 2027.
It aims to increase prices for internal combustion engines by 30% and partly for electric vehicles.
Renault called the move an ‘industrial transformation’.
The automaker said the rate cuts would make the company more agile and competitive.
Renault also said it would make four new models at its Bursa site in Turkey.
Thursday’s update comes the same week that alliance partners Nissan and Mitsubishi announced plans for electric vehicles.
The car giants have announced that they will invest in Ampere, Renault’s electric vehicle unit, and use it to expand cars for the European market.
Renault has a long-standing alliance with the two Japanese companies.