Boulogne-billancourt, June 28, (dpa-AFX/GNA) – Renault Group says it has signed two major partnerships in the field of the design and production of electric vehicle batteries.
Renault Group reached a strategic partnership with Envision AESC as it set up a gigafactory in Douai, close to Renault ElectriCity, to support the manufacture of batteries to make electrical mobility more accessible in Europe.
As the battery arm of global green technology company Envision Group, it will invest up to 2 billion euros (2.4 billion dollars) to produce the latest-technology, cost-competitive, low-carbon and safe batteries for electric models, including the future R5, Renault said.
Renault Group also signed a memorandum of understanding with the French start-up Verkor to co-develop and then manufacture high-performance batteries, with a view of owning a more than a 20-per-cent stake in Verkor.
Renault Group and Verkor intend to jointly develop a high-performance battery suitable for the C and higher segments of the Renault range, as well as for the Alpine models.
The combination of two partnerships with Renault ElectriCity industrial cluster will create about 4,500 direct jobs in France by 2030, while developing a robust battery manufacturing ecosystem in the heart of Europe, Renault said in a statement.
GNA