PARIS -- Renault said it was targeting a double-digit margin for its new Mobilize brand and that the business would aim to represent 20 percent of overall group turnover by 2030, as it unveiled new plans to boost growth at the division.
The automaker is counting on this new business to help turn around its finances. In February, Renault posted an annual profit for the first time in three years. But its sales fell for the third straight year in 2021.
As a sign of its upcoming importance in Renault's strategy, Mobilize detailed its own midterm business plan on Tuesday.