PARIS (Reuters) – Renault’s new chief executive, Luca de Meo, will revive some of the best-selling models from the 1960s to the 90s as electric cars under a conversion plan aimed at improving sales and repositioning the automaker who are struggling, said two sources familiar with the matter.
De Meo is set to announce its strategy update on January 14, which is expected to focus on the product areas the company bets on – introducing a nod to Renault’s history.
The French loss-making company has already announced 2 billion euros in cost savings and job cuts in their effort to improve margins and boost the organisation’s performance in an automated market hit to hard with COVID-19 pandemic and under pressure to produce cleaner vehicles.
De Meo, which has said it wanted to follow the brand’s French roots, will unveil an electric version of the small 4L cars that have now been introduced in the early 1960s, the two sources said. .
There will also be a revived electronic version of another popular model from the 1970s and 1980s, based on the R5 or the “Super Cinq” that followed, the sources added.
Renault declined to comment.
“Luca de Meo is very focused on the results, and will have the strategic plan as well,” said one of the sources.
Among other Renault brands, the group will also be showcasing three new electric models for the Alpine sportscar label, the stores added.
One of Renault’s challenges is to create a unique identity for each of the logos, which also includes Dacia and Lada.
The company has already stated that they want to focus on a smaller number of domains and link in on profitable products, as well as leaving some markets, returning the established global enterprise on sizes under vice-president Carlos Ghosn.
Sources had previously told Reuters that well-known but ill-fated models like the Espace minivans could be among those now partially eliminated.
Reporting by Gilles Guillaume, Written by Sarah White; Edited by Kirsten Donovan