SAWT BEIRUT INTERNATIONAL

| 23 October 2021, Saturday |

Renault says will produce 3 new hybrid models in Spain

France’s Renault said on Tuesday it will produce 3 new higher-margin hybrid models in 2022-2024 in Spain following a new labor agreement struck recently with unions.

The carmaker will make Spain a major hub for its E-TECH hybrids as it seeks to refocus its business to cut costs and boost margins after reporting an 8 billion euro loss in 2020.

Renault currently manufactures 3 vehicles at its Valladolid and Palencia plants, located in northwestern Spain.