Renault Group has unveiled a new strategic plan to keep pace with rapidly advancing Chinese vehicle manufacturers that are expanding their presence in global markets. "In an increasingly volatile environment, Renault Group's ambition is to compete with Chinese vehicle manufacturers in terms of innovation, cost and speed," the company said.

The plan, called futuREady, focuses on improving innovation, reducing costs and accelerating development cycles as competition intensifies in the global automotive industry.

Francois Provost, chief executive officer of Renault Group, said on Tuesday the strategy is designed to ensure the company remains resilient in a rapidly changing industry.

"Our industry is entering a tougher, faster and more unpredictable cycle. We have proven we can win. Now we will prove we can last," said Provost, who oversaw Renault's China and later Asia-Pacific operations from 2016 to 2020. "This strategic plan is about turning performance into permanence. FutuREady is about building a group that can perform whatever comes next."

Under the plan, Renault is cutting its product development cycle to about two years, a pace the company said will apply to all new vehicle projects going forward. The company said it has already achieved the target with the Twingo E-Tech, which was developed in China and produced in Europe. Before its launch in late 2025, Philippe Brunet, Renault's chief technology officer, explained how the company achieved the milestone.

"Our Ampere China Development Center in Shanghai is at the heart of this collaboration," he said. Launched in 2024, ACDC is designed to plug directly into China's fast-moving EV ecosystem, accelerating time to market, scouting for innovation and building strategic partnerships.

"It's about acting local to deliver global impact," Brunet said. "And we are just getting started: our next Dacia A-segment EV will be developed even faster, in just 16 months following concept freeze."

In its new strategy, the group also aims to reduce variable costs per vehicle by around 400 euros ($461) a year on average while cutting development entry costs by as much as 40 percent. The strategy is accompanied by a major product offensive. The company plans to launch 36 new models over the next five years, including 16 fully electric vehicles and 14 models targeting international markets.

Overall, the company aims to be present in 55 percent of the global automotive market, representing roughly 50 million units, excluding the United States, Canada and China.

By 2030, Renault's namesake brand aims to sell more than 2 million vehicles annually, with about half of sales coming from outside Europe. It targets 100 percent electrified sales in Europe and 50 percent in markets outside Europe.

As part of the plan, Renault will continue to rely on partnerships to expand its global reach. The company said it will build on its longstanding alliance with Nissan Motor and Mitsubishi Motors while pursuing targeted collaborations with other partners.

In Europe, Renault said its technologies and industrial capabilities are attracting cooperation from companies including Volvo and Ford Motor. It added that India will serve as a key manufacturing and supply hub for both domestic and global markets, including the production of several Nissan models.

The company will also continue to expand partnerships in South Korea and South America with Geely Holding Group.

Renault said the plan builds on improved financial performance in recent years. Its operating margin rose from 2.8 percent in 2021 to 6.3 percent in 2025, while automotive free cash flow increased from 1.3 billion euros to 1.5 billion euros over the same period.

Over the medium term, the company aims to achieve an operating margin of between 5 and 7 percent of revenue and automotive free cash flow of more than 1.5 billion euros per year on average.