Renault's longstanding manager, François Provost, ascends to the CEO position
Renault Accelerates Electrification Strategy Under New CEO François Provost
François Provost, a seasoned executive with experience in the French Ministry of Defense, Ministry of Finance, and Renault, has taken the helm as the CEO of the Renault Group in mid-2025. With a strategic focus on competing with Chinese electric vehicle manufacturers, Provost aims to drive Renault's transformation in an increasingly challenging environment for the industry.
Provost's strategy includes speeding up product development and market launches, leveraging strategic partnerships, and expanding model lineups outside Europe. Renault is set to invest €3 billion in non-European operations, aiming to compete against Chinese manufacturers who are rapidly entering global EV markets.
The Renault Group's current strategy prioritizes accelerating electrification, with a target of 65% EV sales by 2025, while balancing this with continued internal combustion engine (ICE) models to manage market realities. The company is already making strides in this direction, launching new electric models such as the Renault 5 E-Tech and Renault 4 E-Tech, priced around €25,000, and targeting strong sales in Europe, where it is currently a leading EV brand.
Provost's leadership has been met with confidence from Jean-Dominique Senard, chairman of the board of the Renault Group. Senard cited Provost's prudence, determination, and strategic vision as reasons for his confidence in the new CEO.
Despite the challenging financial landscape, the Renault Group reported a consolidated revenue of €27.6 billion, an increase of 2.5%, and a profit margin of 6.0%, a decrease from 8.1%. The operating result fell from €2.175 billion to €1.65 billion. However, there has been a significant 57% increase in electric vehicle sales in Europe for all Renault brands in the first half of the year.
Provost has expressed his dedication to contributing to the development of the Renault Group alongside its employees, partners, and suppliers. He emphasizes the strength of the Renault Group's foundation, committed teams, outstanding product range, strong brands, and innovative organization.
Provost's strategic approach includes fostering partnerships to manage costs and technology gaps. He has founded Horse Powertrain, a joint venture with Geely and Aramco for internal combustion engines, and the Ampere division, a manufacturer of pure electric vehicles.
However, Provost has not extensively discussed the importance of electric vehicles in his public statements as the new CEO, despite the focus on electric vehicles in his strategic goals. The Renault Group reported a loss of €11.1 billion due to a restructured partnership with Nissan, and there has been no mention of this in the half-year results presentation.
In essence, Renault's EV strategy under Provost is a multi-prong approach of accelerating electrification in core markets, expanding internationally, fostering partnerships to manage costs and technology gaps, and ensuring faster product development and launches to counter the rising challenge posed by Chinese EV manufacturers.
- In an effort to compete with Chinese electric vehicle manufacturers, François Provost, the new CEO of Renault Group, is accelerating the company's electrification strategy, aiming to drive a transformation within the automotive industry and finance sector.
- As part of Provost's strategic approach, the Renault Group plans to invest €3 billion in non-European operations, thereby expanding their business operations beyond the transportation industry.
- Under the leadership of François Provost, Renault aims to balance the sales of electric vehicles (EVs) with continued production of internal combustion engine (ICE) models, demonstrating a forward-thinking approach that embraces both existing and emerging trends in the global business landscape.
