French automaker Renault has unveiled an ambitious investment plan for Turkiye, marking a significant leap in its strategic global expansion. The blueprint, announced during CEO Fabrice Cambolive’s visit to Istanbul, encompasses a substantial 400 million euro investment in the Oyak-Renault factory located in Bursa.
Revolutionizing Production Capabilities
The strategy is intricately designed to revolutionize Renault’s local manufacturing capabilities. The automaker aims to slash the production costs of its vehicles by a striking 50% within the next four years, a goal set to be achieved through increased utilization of digital and artificial intelligence technology. The plan also includes a proposal to trim down vehicle development times to just two years,significantly faster than the industry standard.
A Boost for the Turkish Economy
This investment is not only expected to bolster Renault’s manufacturing prowess but also to contribute positively to the Turkish economy. The infusion of funds will equip the Bursa factory to manufacture four new models, further enhancing the brand’s appeal to consumers and strengthening its foothold in the region.
Positioning for the Future
Renault’s future-forward strategy extends beyond immediate cost and time efficiencies. The company aims to halve the industrial cost of producing an electric vehicle by 2027 and reduce that of a combustion engine vehicle by 30%. The vision includes a plan to assemble a Renault 5 in less than nine hours at its Douai plant in France and to produce four new models by 2027 at the Bursa plant in Turkiye.
In a world increasingly gravitating towards sustainable mobility, Renault’s strategic investment in Turkiye positions it as a forward-thinking player in the global automotive industry. This move not only demonstrates the automaker’s commitment to innovation but also its belief in the potential of the Turkish market.