Renault says that it plans to update its assembly plant network to the tune of nearly $8 billion over the next three years in an effort to better focus on emerging global markets.
“Forecasts for 2016 do not see the European auto market returning to its pre-crisis level of 2007,” Renault said in a statement released to members of the media. “The non-European market is expected to expand by nearly 50 percent from 2010 to 2016.”
The automaker is expected to unveil its growth plans over the next few weeks, which are expected to put an emphasis on higher end passenger and commercial cars for Europe and inexpensive small cars for most of its other markets – including South and Central America, Asia and Africa.
“In the rest of the world, plant capacity is being expanded and performance enhanced so that Renault can make a strong contribution to growth in emerging markets,” the automaker said.
