French OEM Renault Group has reported 48pc of its Q1 sales being either BEV or hybrid, putting the firm ahead of major European rivals in terms of electrified vehicles sales share.
Of Renault's sales in the quarter, 10.5pc were BEVs. And the company says this share will increase with the impact of upcoming launches of its Scenic, Renault 5 and Renault 4 E-Techs.
"We are in a transition of the EV line-up of Renault because Zoe is basically done now and Twingo EV is at the end of its life, so we are eagerly awaiting the launch of Scenic and Renault 5. In terms of EV penetration it is going to increase significantly for us in the second half of the year," says Renault CFO Thierry Pieton.
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While the firm will not open orders of its recently revealed Renault 5 BEV until the summer, the OEM says expressions of interest are "quite significant in volume". "We are very, very optimistic about how this car is going to perform," says Pieton
Renault "continue[s] to see people go for the more powerful versions of the electric vehicles with the bigger batteries," the CFO continues. And he adds that the automaker is also seeing customers veer towards hybrid versions of products the firm makes with ICE powertrain options, citing two thirds of Astrale sales and one third of Clio sales now being full hybrid models.
"There is a switch to electrification, no question," the CFO says. "It is very clear that this is not going to change anymore."
Unlike fellow European OEMs like Mercedes, which has urged greater assistance from the European Commission in facilitating the EU's CO2 targets — and despite Renault's own CEO Luca de Meo last month calling for a regulatory overhaul in the EU auto industry — Pieton emphasises that Renault is well-positioned in the current regulatory environment.
"The performance of electrified cars is pretty good, so we are quite comfortable that we are going to reach the target," he says. "In terms of expectations, we are not banking on any change of rules, at least for 2025."
And regarding any potential tariff hikes on competing Chinese BEV imports to Europe, "we are not banking on that in our guidance, so it will be upside if something happens", Pieton says.
Ciaran has written about finance, politics and culture. He is passionate about e-mobility and what it means for our way of life.
Ciaran has a Masters in Ancient Philosophy from Oxford University.
