Renault Aims to Slash EV Production Costs in Half.

Renault SA plans to reduce the cost of producing electric vehicles (EVs) by 50% by 2027, as well as shorten vehicle development times to two years. These measures are part of Renault's efforts to make its manufacturing base more competitive and cut production costs for internal combustion-engine cars by 30%. The company aims to compete with Chinese manufacturers entering the European market by offering more affordable EVs. Renault also announced plans to manufacture four new models at its Bursa site in Turkey and launch 12 new models next year. [Extracted from the article]