French carmaker, Renault, has pledged more than one billion euros "to accelerate investments for the development and production of electric vehicles". Among a list of plans, the company also intends to create a second electric vehicle production site at Douai, France, and triple electric motor production capacities at its facility at Cleon by 2021.
Renault posted 38 per cent growth in EV sales in Europe in 2017. Carlos Ghosn, Chairman and CEO of Renault, said: "The acceleration of our investments in France for electric vehicles will increase the competitiveness and attractiveness of our French industrial sites. Within the framework of its Drive the Future strategic plan and with the Alliance, Groupe Renault is giving itself the means to maintain its leadership in the electric vehicle market and to continue to develop new sustainable mobility solutions for all".