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Groupe Renault presents its draft plan to reduce fixed costs by more than 2 billion euros over three years

· The objective of reducing fixed costs by more than 2 billion euros over 3 years aims to restore the Group's competitiveness and ensure its long-term development within the framework of the Alliance. · The draft plan is based on the efficiency of operations within Groupe Renault: by simplifying processes, reducing the diversity of components within vehicles and adjusting industrial capacities. · The planned changes will be implemented in consultation with the social partners and local authorities within the framework of an ongoing dialogue.

Boulogne-Billancourt, May 29, 2020 – As promised when it announced its annual results, Groupe Renault today presents its transformation plan, which aims to achieve savings of more than €2 billion over three years and to lay the foundations for a new competitiveness.

The difficulties encountered by the Group, the major crisis facing the automotive industry and the urgency of the ecological transition are all imperatives that are driving the company to accelerate its transformation.

The draft plan will strengthen the company's resilience by focusing on cash flow generation, while keeping the customer at the centre of its priorities. It is based on a more efficient approach to operational activities and rigorous management of resources.


More information in attached document.

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