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April 26, 2021 08:11 AM

Renault scraps investment in new diesel engine

Automaker will adapt existing powertrain, CEO says

Reuters
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    PARIS -- Renault will not invest in developing a new engine to fit the last generation of diesel vehicles it will produce and will instead adapt its existing model, CEO Luca de Meo told shareholders.

    Automakers are accelerating an overhaul away from combustion-engine vehicles and into electric cars, encouraged by more stringent rules on pollution and emissions and growing consumer demand for greener vehicles.

    Renault makes its own engines and was long a provider of diesel powertrains for other companies too.

    Dropping this investment plan comes as the money-losing group looks to cut costs.

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        • Capgemini: All or nothing: Why circular business models require a holistic approach
        • Capgemini: Invent Head on automotive takeaways from CES 2023
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: The circular economy is spurring new thinking on EV batteries
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • PUBLICIS SAPIENT: The power of post-purchase: How automakers can maximize customer lifetime value
        • TOYOTA EUROPE: Toyota Motor Europe's next-gen C-HR: sensory innovations revealed by Vehicle UX leader
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