Renault To Invest €3 Billion to Bolster Presence Outside Europe

Renault SA will invest €3 billion ($3.2 billion) to introduce eight new models outside of Europe, where carmakers see persistent inflation cutting into demand for vehicles.

The company’s namesake brand aims to double its net revenue for each unit sold outside Europe from 2019 levels in the coming years, Renault said Wednesday. The French carmaker will start selling the Kardian in Latin America and Morocco next year.

Renault is in the midst of a broad transformation, unwinding a longstanding alliance with Nissan Motor Co. as it navigates the industry’s shift to electric. Chief Executive Officer Luca de Meo is carving ...