PARIS – New Renault CEO Luca de Meo will revive some best-selling models from the brand’s past as electric cars under a turnaround plan aimed at improving sales and repositioning the struggling automaker, two sources familiar with the matter said.
De Meo is due to unveil his strategy update on Jan. 14, which is expected to focus on the product ranges the company will bet on -- including a nod to Renault's past.
The money-losing French automaker has already announced 2 billion euros in cost savings and job cuts in its bid to improve margins and boost the group's performance in an auto market hit hard by the COVID-19 pandemic and under pressure to produce cleaner vehicles.
De Meo, who has said he wanted to lean on the brand's French roots, will unveil an electric version of the now-phased-out Renault 4 small cars introduced in the early 1960s, the two sources said.