François Provost, chairman and CEO of Renault Group, said, "It is now time for Renault Korea to consider full electric vehicle production," adding, "We plan to expand the lineup in stages in the Korean market."
Provost met with Korean reporters at a media roundtable at a hotel in Seocho-gu, Seoul, on the 3rd. He is known in France as a leading pro-Korea figure who served as president of Renault Samsung Motors from 2011 to 2016, and he visited Korea to coincide with French President Emmanuel Macron's trip.
Provost said, "We have confirmed a strong trend toward electrification in Korea," adding, "As Renault Group is leading the EV trend in the European market, we see it as the time and plan to improve the foundation so we can also produce full electric vehicles in the Korean market in line with the group's direction."
Renault Korea carried out a large-scale update at its Busan plant in January last year so it could simultaneously produce internal combustion engine cars, hybrids, and pure electric vehicles. It is contract-manufacturing the pure electric Polestar 4 of China's Geely Group brand Polestar, but there is still no pure electric vehicle released in Korea under the "Renault" brand. "Grand Koleos" launched in gasoline and hybrid models, and "Filante" launched as a hybrid model. The model being prepared with a 2027 target is known to be a pure electric vehicle.
He also made clear that the company will maintain its battery partnership with LG Energy Solution. Provost said, "Renault Group began its automotive battery business with LG Energy Solution in the Korean market in 2013, and the 'SM3' benefited from it," adding, "Because we have built a deep and strong partnership with LG Energy Solution over a very long period, LG Energy Solution will remain a core strategic battery partner for Renault Group going forward."
Nicolas Paris, CEO of Renault Korea, who joined the event, also said, "Regarding our electrification strategy in Korea, our No. 1 principle is localization in Korea to build a competitive battery ecosystem."
Recently, Renault Group announced a new mid- to long-term strategy, "Future Ready," to expand electrification across its entire lineup and strengthen global markets outside Europe. Provost said, "The time has come to restart outside Europe, and the Korean market in particular will be a target," adding, "We have plans to expand the lineup in stages in the Korean market."
Provost also laid out tasks to bolster Renault Korea's competitiveness. First, he said, "We must fully demonstrate our capabilities in developing and producing upper-segment vehicles." Renault Korea's Busan plant is the group's only production base specialized in the D and E segments (mid- to large-size). He said, "Compared to when we allocated Grand Koleos and Filante four years ago, the results and performance far exceed expectations," adding, "We need to showcase these aspects even better."
He also called for expanding domestic sales. Provost said, "We need to once again ignite a strong brand story in the Korean market to maximize familiarity with Renault Korea," adding, "We should leverage social contribution in the Korean market as momentum to expand sales again."
Lastly, he emphasized export competitiveness. He said, "Renault Korea has the production capacity to handle domestic demand and exports in larger segments, which is the role expected by the group," adding, "The Busan plant has already shown excellent adaptability and capabilities in exports, but Renault Korea's executives and employees can craft policies and strategies even more optimized for the group and the Korean market."