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Car brand Renault no longer wants to sell 90 percent but only electric vehicles in Europe by 2030. That said the general manager of the Renault group, Luca de Meo, on Thursday.

jvhSource: BELGIAN

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The French brand is launching a compact electric Mégane this year, and soon a modern version of its small Renault 5. Both cars are made in the north of France.

The Renault CEO does expect that the supply problems for computer chips will continue this year, with the focus in the first half. The French car maker was unable to make half a million cars last year due to the scarcity.

The CEO also announced that progress has been made in improving profitability. Renault has managed to cut 2 billion euros in fixed costs, he said. In 2020, the company concluded an agreement on a loan of 5 billion euros with a state guarantee to get through the crisis. The board expects to repay that loan by 2024.

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