Renault to invest 10B euros in EVs

French automaker Renault announced that its group will invest more than 10 billion euros (11 billion dollars) in France over the next five years, with the aim of expanding electric vehicle production and making cars more affordable for everyone. CEO François Provost noted that the company previously invested 13 billion euros during the past five years in its full transition to electric vehicles, with expectations of further investments if social and political conditions are favorable. Electric vehicle sales in France accounted for 42% of all new car registrations last September, driven by increased demand due to rising fuel prices.

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