Renault is targeting annual sales of more than 2 million vehicles by 2030 as it seeks to reduce its heavy reliance on Europe amid intensifying competition from Chinese automakers. Under new CEO François Provost, the French carmaker aims to generate half its sales outside Europe, up from 62 percent currently. The company plans to launch 36 new models by 2030, with 14 targeted at emerging markets.

This strategic pivot comes as Chinese brands like BYD and Chery rapidly expand their market share in Europe with affordable electric vehicles and hybrids. Renault's exposure to this competitive threat is particularly acute given its limited presence in the US and China. The company is focusing expansion efforts on India, Morocco, Turkey, Latin America, and South Korea, including plans to build and export SUVs from India.

Analysts warn that Renault faces the highest European exposure among major automakers and lacks the scale of global competitors. The company is targeting operating margins of 5-7 percent, down from a record 7.6 percent in 2024. To offset its size disadvantage, Renault is leveraging partnerships with Nissan, Mitsubishi, Ford, Volvo, and Geely while attempting to adopt Chinese manufacturing efficiency methods. The strategy represents a high-stakes bet on emerging markets as Renault attempts to reestablish itself as an agile manufacturer after recent turmoil.