t seems that the low-cost gearbox technology from Renault is giving the French maker plenty of time to gain ground in the hybrid vehicles market in Europe
while competitors and rivals are stressed by the fast-growing electric mobility challenge.
Even though the European Union decided to ban combustion engine cars starting in 2035, the demand for electric vehicles is not growing now in the automotive industry. Renault represents a smaller company compared with other automotive peers, and after the 2020 losses, it has now an impressive strength in the hybrid vehicles technology which uses a thermal engine and also an electric engine.
The Renault Clio and Renault Captur hybrid vehicles combine very efficient thermal and electric engines offering seamless compatibility with the Renault Charger and the Renault EV charger, which can ensure convenient and fast charging for drivers who are looking to transition to electric mobility.
According to Renault's preliminary figures, from the beginning of this year until August, Renault sales of the hybrid vehicles Clio and Captur have risen by 55% compared with last’s year sales. This sales increase of 60% in the first half of the year, has transformed Renault into the second-biggest brand in Europe in the market, after Toyota.
After its announcement on October 8, 2024, about the plan to remain focused on the business targets, some analysts from Stifel made some statements about the Renault company and their success in the European EV market.
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"Renault seems to be doing very, very well,", an analyst stated.
"We think the company is simply more versatile and agile than its peers,", they also added in this statement.
Renault needs to maintain their strength and success in hybrid vehicles because they are much cheaper compared to EVs and also less polluting than the traditional ones, making them the best choice for the European market. This can help CEO Luca de Meo register a lower rate of overall gas emissions while growing sales in the near term.
According to different consultancies from Dataforce and S&P Global, the demand for hybrid vehicles and also for EV is is very likely to record growth until the end of the decade.
Due to the market capitalization of $12.68 billion, the affordable hybrid cars company is valued at only a quarter of Volkswagen which is the European leader in the Hybrid and EV market. This evaluation is allowing Renault to be more active and innovative in its affordable hybrid cars but has a higher potential to be exposed in this growing competition that comes with the Chinese EVs.
Currently, the Renault company is owned about 15% by the French government and plans to create a new strategic direction after its two-decades-long partnership with Nissan and Mitsubishi.
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