fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Infrastructure Logistics

Renault plans strategic Gigafactory deal in Douai to revert profits

The partnership will create nearly 4500 jobs by 2030 in France

The Global Economics by The Global Economics
June 28, 2021
in Logistics, Technology, Top Stories, Transportation, Wealth & Asset Management
Reading Time: 2 mins read
0
Renault plans strategic gigafactory deal in Douai to revert profits

Renault plans strategic gigafactory deal in Douai to revert profits

746
SHARES
4.1k
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

The Chinese wind energy producer Envision Group intends to invest $2.4 billion in northern France in a battery plant to power the range of Renault SA electric vehicles.

The company accelerates in becoming the world’s best net-zero technology partner for its clients from various sectors. Furthermore, it commits to building a global smart energy ecosystem that leads to a sustainable energy future.

On Monday, French President Emmanuel Macron would disclose the details of the contracts between the two companies at Renault’s assembly plant in Douai. The French government fund for the EV projects is nearly 200 million Euros. The new projects of the EV plant are estimated to bring a pool of almost 4,500 job opportunities by 2030. Envision operates in 9 global technology innovation centers in Denmark, the US, Germany, Singapore, and other countries. Envision reached $8 billion in sales last year further expects high growth in batteries.

The other carmakers competing in electric vehicles are Porsche, which announced that at least 80% of its global sales by 2030 would be from electric vehicles and pledged to be CO2-neutral in two years. Also, with an ambitious goal to reach carbon-neutral by 2050, Nissan plans to invest $1.8 billion in EV to sell 1 million hybrid or electric vehicles annually.

The economic benefits through electric vehicles include reduced fuel consumption, which, according to the long-term EV outlook, would be displacing a 6.4 MMbpd of oil demand, and fuel efficiency will decrease an additional 7.5 MMbpd by 2040. The job opportunities consequently have a brighter future with the electric vehicle sector booming. In addition, the industry creates transport investment that reduces carbon emissions, which brings green, sustainable recovery.

Renault plans to bolster 1 million electric vehicles by 2030 as the carmaker saw extreme losses last year. Renault’s revenue in 2020 was 43.47 billion Euros, less than 10 billion in the year before. Additionally, Renault inked a deal with STMicroelectronics to have a steady flow of power semiconductors for full-electric and hybrid vehicles.

The Renault 5 model will comprise Envision’s nine gigawatt-hours of batteries in 2024 and 24 gigawatt-hours by 2030. Additionally, Chief Executive Officer Lei Zhang said the company aims to get permission for a capacity of 43 gigawatt-hours if it establishes concrete deals with other automotive companies. However, he added, “France is strategic for Envision.”

Tags: chinaDouaiEmmanuelMacronEnvisionGroupGermanyGigaFactoryRenaultsingapore
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

Related Posts

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit
Ultility

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

by Riya Thomas
February 1, 2023
Oil storage tank
Islamic

Saudi Arabia Lowers Crude Prices For Asia, Not For the US

by Anuj Singh
January 31, 2023
Adani Group shares plunged, resulting in the erasure of $72 billion after three-day selloffs
Funds

72 Billion Wiped Out: Adani Group Shares Plunge After Three-Day Selloffs

by Riya Thomas
January 30, 2023
A girl using a smartphone
Digital

China’s 2022 Smartphone Sales Plunge to the Lowest Level in a Decade

by Khushboo Pandey
January 30, 2023
Baidu, the Chinese search giant all set to launch a ChatGPT-style bot in March 2023
Technology

Baidu, the Chinese search giant all set to launch a ChatGPT-style bot in March 2023

by Riya Thomas
January 30, 2023
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Lebanon currency devaluation

Lebanon to Devalue Its Currency By 90%

February 1, 2023
A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

February 1, 2023
China To Boost Oil Demand By Up To 500,000 BPD PC: Reuters

Oil Cools Off on a Weak Dollar

February 1, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, delivered right into your email inbox.

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version