Hyperdrive Daily: Renault Is Banking On Its EV Strategy

Welcome to the Hyperdrive daily briefing, decoding the revolution reshaping the auto world, from EVs to self-driving cars and beyond.

It was quite a week for Renault. On Sunday, the carmaker announced it struck a deal to secure batteries from China’s Envision Group as part of a $2.4 billion factory project in northern France. The next day, French President Emmanuel Macron made a rare appearance at the company’s Douai factory to tout the battery deal. Then on Wednesday, Renault unveiled the second part of its 10 billion-euro ($12 billion) bet on electric cars, providing more details on the batteries, powertrains and models the car maker is developing. Chief Executive Officer Luca de Meo, speaking later that day to Bloomberg Television, discussed his turnaround plan for Renault, which last year posted a record loss.