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COUCHE-TARD TAPS ALEX MILLER TO SUCCEED CEO BRIAN HANNASCH

Miller, who's currently chief operating officer, will take over from September 6

Renault's Dacia aims to double revenue between 2022 and 2030

Reuters
·1 min read
FILE PHOTO: A Renault logo is pictured in Brussels

(Reuters) - French automaker Renault said on Monday it expects Dacia, the group's budget brand, to double its sales and profitability by 2030.

Dacia expects revenue to double between 2022 and 2030, Renault Group said in a statement, with half of the increase driven by volume and half by "mix and price". Fixed costs are expected to increase slightly over the same period, the group said.

Dacia also expects its return on capital employed (ROCE) to exceed that of Renault Group, and to double between 2022 and 2030.

Currently, Dacia's lineup includes only one fully electric vehicle, the compact Spring, which is manufactured in China and therefore incurs an additional 21% in European customs duties.

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"From affordable ICE electrified solutions, Dacia will smoothly transition to EV in Europe by pioneering affordable EV solutions," the brand said in a statement without providing further details.

(Reporting by Anna Peverieri; Editing by Susan Fenton)