Renault aims to catch VW with EV surge

Renault had an early lead in electric cars.

Its compact Zoe model has been Europe's top-selling EV for years, but the French firm has been losing ground to Volkswagen.

Last year the German giant took 25% of the region's EV market, seizing top spot.

On Wednesday (June 30) Renault set out ambitious new plans for a fightback.

The company says it will now launch 10 electric cars by 2025, and such vehicles will account for 90% of its models by 2030.

The strategy will involve going back to the future.

Among planned models are an electric version of the classic Renault 5 hatchback, last made in the 1990s.

An electric version of the same era's Renault 4 is also coming.

Company boss Luca de Meo says cutting costs will be key.

One weapon in that respect will be a cluster of production sites in northern France focused on EVs.

Renault workers may be less keen on the broader strategy though.

De Meo plans to cut thousands of jobs as part of turnaround plans that he calls a "Renaulution."

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