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PARIS-French automaker Renault revealed an electric revamp of a beloved hatchback from the 1970s on Thursday to spearhead a revival plan after years of turmoil. The company is hoping to move upmarket as the industry races to make a clean-energy shift.
Renault counting on EVs and more expensive cars to boost fortunes
By AFP
By Taimaz Szirniks
PARIS - Renault last week unveiled an electric revamp of a beloved hatchback from the 70s to spearhead a new revival plan after years of turmoil, hoping to move upmarket as the industry races to make a clean-energy shift.
Luca De Meo, the Italian industry veteran brought in after the arrest and ousting of ex-chief Carlos Ghosn, promised to streamline operations and focus on more profitable segments as he laid out his strategy blueprint for the next five years.
However despite the upmarket shift, there is still be an affordable battery car in the works. At the vanguard of Renault’s new strategy will be a new version of the R5, Renault s sturdy stalwart first produced in 1972, an electric car that everyone can afford, De Meo said at a press conference.