Groupe Renault and Group Lotus have signed a memorandum of understanding to study the joint development of an electric sports car. A feasibility study for the joint engineering, design and development of an EV sports car will also explore the development of a joint services offer combining their engineering expertise to use Alpine’s motorsport platform covering Formula One to Formula E and Endurance racing is also under study.
It’s a strange twist when French and English performance car purveyors with winning race teams find themselves cooperating. This also comes as the so-called *Renaulution plan that aims to restore Groupe Renault’s competitiveness based on return, not sales or market share was approved in Boulogne-Billancourt by the Board of Directors this morning,
“This collaboration along with our transformation mark the beginning of a new era in which we’ll be taking the Alpine name and line-up to the future. We’re putting F1 at the heart of our business, leveraging our in-house expertise and best-in-class partners such as Lotus to inject our cars with leading-edge performance, technology and motorization,” said Laurent Rossi, CEO Alpine. He is currently peddling, err vendez, the new A110, a sports car.
This strategic plan has 3 phases that are launched in parallel:
- “Resurrection”, running up to 2023, will focus on margin and cash generation recovery,
- “Renovation”, spanning up to 2025, will see renewed and enriched line-ups, feeding brand’s profitability,
- “Revolution” from 2025 and onward, will pivot the business model to tech, energy and mobility; making Groupe Renault a front-runner in the value chain of new mobility.