Renault is shutting down car‑sharing services and slowing the rollout of fast‑charging stations at its Mobilize unit, which focuses on new transport solutions, as it seeks to funnel investments into more profitable ventures.
Ford CEO Jim Farley acknowledged the automaker is in “a fight for our lives in our industry” as it seeks to remain competitive in Europe amid pressure from Chinese competitors. One of its weapons to stave off those threats is a partnership with French automaker Renault Group.
Renault will jointly develop small, cheaper electric vehicles for Ford for the European market and will also team up to produce commercial vans to cut costs and fend off rising competition from Chinese rivals, the companies said on Tuesday.
Renault, Porsche Holdings and Mercedes were among the automakers gaining after Trump said he plans to change rules that regulate how many miles vehicles must travel on a gallon of fuel.
Renault Group will produce two new cars in Brazil in the second half of 2026, using the base of its Chinese partner Geely's vehicles, as it further expands in a high growth market, it said on Tuesday.
France's Renault has ended a project with Valeo to develop a new rare-earth-free electric vehicle motor and is looking instead for a cheaper Chinese supplier, two sources familiar with the matter told Reuters.
Renault unveiled its new electric Twingo small car on Thursday as the French automaker seeks to leverage a popular old model name and a price tag of under 20,000 euros ($23,000) to boost its electric vehicle sales.
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