Renault Commits $320 Million and Plans to Hire 550 Employees for Electric Van Production in Northern France
BollywoodFever, March 29: Renault, the French automotive manufacturer, has announced plans to invest €300 million ($323.25 million) in its Sandouville assembly facility located in northern France for the production of next-generation electric vans starting in 2026.
The company also intends to expand its workforce by adding 550 employees to the current 1,850 staff members at the plant within the next four years, according to a company statement.
This initiative to manufacture a light van, aimed primarily at the last-mile delivery sector, falls under the purview of Renault’s electric vehicle division, Flexis. Flexis is a collaborative effort between Renault, Swedish automotive company Volvo, and the French maritime and logistics conglomerate CMA CGM.
In March, Renault and Volvo received the necessary regulatory approvals to commence operations for this joint venture. Additionally, CMA CGM Group has expressed its willingness to contribute up to €120 million to the project, Renault disclosed. The exchange rate used for these conversions is $1 = €0.9281.
Also Read, Prisma Finance Hack Leads to $6.5 Million in Ethereum Moved to Tornado Cash
Bookmark and Follow us for More Business News
