- Renault SA (OTC:RNSDF) aims to cut the cost of its batteries by 60% this decade to drive the electric vehicles market, Bloomberg reports.
- Renault also plans to lower the cost of its electric motors by 30%, make them more compact and extend their range. It plans to launch multiple EVs in the coming years, including a revival of the iconic and affordable ‘4L’ model.
- The automaker’s plan of converting its Renault 5 into an EV will cost a third less than its compact Zoe EV.
- EVs will account for up to 90% of Renault-branded cars by the end of this decade, CEO Luca de Meo said.
- Earlier this week, Renault disclosed plans to secure batteries for its future vehicles produced in France. China’s Envision Group agreed to construct a $2.4 billion Renault battery factory near Renault’s auto plant in Douai.
- Renault, which had a record loss last year, also plans to acquire a stake of slightly over 20% in a year-old French startup called Verkor for higher-performance power packs. The automaker could join Stellantis NV (NYSE:STLA), and TotalEnergies SE (NYSE:TTE) formed joint venture.
- Renault’s push into affordable EVs is a pledge to lower battery-pack costs to less than $100 per kilowatt-hour in 2025 and below $80 per kilowatt-hour in 2030.
- Renault also plans to boost battery recycling and collaborate with its Japanese partners Nissan Motor Co Ltd (OTC:NSANY) and Mitsubishi Motors Corp (OTC:MMTOF) on battery technology and EV platforms.
- The Douai vehicle assembly plant is one of three sites Renault plans to combine and turn into an EV hub called ElectriCity capable of churning out 400,000 cars annually.
Green Plains Partners Q4 EPS $0.41 Down From $0.42 YoY, Sales $20.95M Up From $19.09M YoY
Green Plains Partners (NASDAQ:GPP) reported quarterly earnings of $0.41 per share. This is a 2.38 percent decrease over earnings of $0.42 per share from the same period last year. The company reported $20.95 million in
