Dongfeng Renault Automotive Company (DRAC) has outlined its 2022 Vision. According to the plan, the OEM aims to sell 400,000 vehicles by 2022, based on nine local models, including three EVs, with a focus on the SUV segment.
DRAC has achieved its initial goals of the last four years and is now ready to begin a new journey over the next five years opening a new chapter as a mainstream joint venture by leveraging a full-value chain system.
Carlos Ghosn, chairman and CEO of Groupe Renault, said, “We recognize China as the world’s largest auto market and as a global trendsetter in the mobility of the future and that is why we have made it a strategic priority for growth in Groupe Renault’s new mid-term plan Drive the Future. Together with Dongfeng Group, we have the resources, scale and technologies to support DRAC’s sustainable growth in the Chinese market.”
DRAC says it will continue to be lean and agile, developing products focused on the Chinese market with 90% localization.
Meanwhile, DRAC will expand its R&D capacity, including for EVs and connected technologies; tap the local talent pool; and build its Wuhan Plant into one of the best within the Renault-Nissan-Mitsubishi Alliance.
November 2, 2017