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Renault Announces 6-yr Plan; Targets Annual Revenues Over EUR 70 Bln By Plan-end

Groupe Renault (RNSDY.PK,RNSDF.PK,RNT.L) announced Drive The Future, a six-year (2017-2022) plan to deliver annual revenues of over 70 billion euros, achieve a group operating margin of over 7% by the end of the plan, with a floor at 5%, and positive free cash flow every year. Under the plan, the company forecasts that unit volumes will grow more than 40% to over 5 million units, compared with 3.47 million units sold in 2016.

Key elements of the plan include: 21 new vehicles including 3 add-ons; expanded Russia presence through Renault and investments in AVTOVAZ (Lada); accelerating opportunities in China; and growing market opportunities in Brazil, India, Iran.

The Plan also targets: 4.2 billion euros in Monozukuri savings over the period; R&D Investment of 18 billion euros over six years; 15 AD (Autonomous) vehicles; and new mobility services - ride-hailing, robo-taxi services by end of plan.

by RTTNews Staff Writer

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