Renault seeks new partners for EV research and development

French car manufacturer Renault is said to control 80% of its EV value chain ahead of its 2030 initial target, as the company builds partnerships for batteries, electric motors and different electronic systems.

According to Reuters, Renault CEO Luca de Meo stated that research and development costs were too high for the company to take on by itself, which is why it wanted to find partners to ease of the development and production process.

De Meo said that "our old recipes are not enough anymore. The huge investments the shift to electrification requires are not sustainable."

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"We want to co-invest, co-develop and co-create", he added.

Renault made significant progress when it comes to controlling the EV value chain, as the company controlled only 10% of it three years ago.

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That figure now sits at 30% and according to the CEO, it will hit 80% before the end of this decade.

Current Renault partners Nissan and Mitsubishi decided not to mention yet if they'll be part of the French carmakers' EV plans.

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