French carmaker Renault will reportedly revive some of the company’s best-selling models from the 1960s to 90s as electric vehicles in a move driven by new boss Luca de Meo intended to improve sales and help the struggling automaker to get its head above water.
According to “two sources familiar with the matter” who spoke to Reuters, Renault’s de Meo will unveil the new strategy on Thursday in a bid to turn around the ailing company’s fortunes. According to the two anonymous sources, de Meo is looking to fall back onto the company’s historic successes and French roots.
Groupe Renault had already announced that Luca de Meo would present a new strategic plan on January 14 – the so-called “Renaulution” – though no specifics of the promised new strategic plan were offered.
According to one of the two anonymous sources, “Luca de Meo is very focused on the products, and his strategy plan will be too.” As such, de Meo will reportedly unveil an electric version of a phased-out 4-litre vehicle originally introduced in the early 1960s, as well as an electric revision of another popular 1970s and 1980s model, based on the R4 or its successor the “Super Cinq”.
The sources also revealed that Groupe Renault will also present three new electric models for the Alpine sportscar label.
Luca de Meo was announced as Renault’s new Chief Executive Officer in January of 2020, before which he served as Chairman of the Executive Committee of SEAT and as a member of the Supervisory Boards for Ducati and Lamborghini, and Chairman of the Board of Directors of the Volkswagen Group in Italy.
“I am delighted with this new governance, which marks a decisive step for the Group and for the Alliance,” said Jean-Dominique Senard, Chairman of the Board of Directors at Renault, speaking in January 2020.
“Luca de Meo is a great strategist and visionary of a rapidly changing automotive world. His expertise but also his passion for cars make him a real asset for the Group.”
Renault has already planned a $US2.2 billion “no taboos” cost-cutting over the next three years, announced in February 2020 after the company reported its first loss in a decade. Since then, the company has further suffered under the limitations imposed by the global COVID-19 pandemic and increasing pressure to produce cleaner vehicles.
The French company has already suggested that it wants to focus on a smaller number of vehicle ranges and focus on more profitable product lines and has raised the possibility of exiting some markets, reversing a push implemented under former boss Carlos Ghosn.