Renault Group CEO Francois Provost has pledged to continue investing in electric vehicles across Europe despite warning of declining profitability this year. The French automaker faces mounting competition as it launches new EV models, with Provost acknowledging the challenging market environment in his first television interview since taking the helm.

Provost plans to maintain the same strategic approach as his predecessor, targeting resilient growth both in Europe and beyond. He emphasized the need for steady performance over the next five years while navigating industry headwinds. The CEO views competition from Chinese automakers not as a threat but as a catalyst for innovation and potential partnerships in the rapidly evolving EV sector.

Renault's commitment to European EV investment comes as the company grapples with profitability pressures and intensifying market competition. Provost's strategy focuses on maintaining steady growth while adapting to the changing automotive landscape. The company's approach reflects broader industry challenges as traditional automakers compete with both established rivals and new entrants in the electric vehicle market.