Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
Trump Signs Executive Order to Establish National AI Regulation Standard 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Australia’s Under-16 Social Media Ban Sparks Global Debate and Early Challenges 
U.S. Greenlights Nvidia H200 Chip Exports to China With 25% Fee 
Australia Enforces World-First Social Media Age Limit as Global Regulation Looms 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
IBM Nears $11 Billion Deal to Acquire Confluent in Major AI and Data Push 
Nvidia Develops New Location-Verification Technology for AI Chips 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
US Charges Two Men in Alleged Nvidia Chip Smuggling Scheme to China 
Rio Tinto Signs Interim Agreement With Yinhawangka Aboriginal Group Over Pilbara Mining Operations 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
SpaceX Reportedly Preparing Record-Breaking IPO Targeting $1.5 Trillion Valuation 
Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Renault, a leading automotive manufacturer, announced its plans to reduce the production costs of its vehicles by up to 50% within the next four years. This significant cost reduction will be achieved by implementing digital and artificial intelligence (AI) technologies.
Enhanced Efficiencies and Vehicle Development
Reuters reported that to achieve its cost reduction objectives, Renault aims to decrease production costs per vehicle by 30% for internal combustion vehicles and 50% for electric vehicles by 2027. Additionally, the company plans to shorten vehicle development times from three years to an impressive two years.
Renault is already utilizing over 300 AI applications to enhance quality control and trace car parts, such as tires, as per BNN. By 2025, the company aims to increase this number to 3,000, further optimizing production processes. Furthermore, Renault has committed to investing a substantial 400 million euros into its Bursa site in Turkey.
This investment will support the production of four new models, including an economical SUV named the Duster. The Bursa plant is poised to become a prominent export hub, serving the European and global markets worldwide.
Renault's primary objective is to transform the Bursa plant into a thriving export hub, catering not only to Europe but also to countries across the globe. The company seeks to solidify its presence in international markets and capture new opportunities.
Ampere's Strategic Spinoff
Continuing its push towards innovation, Renault completed the spinoff of Ampere, its newly established electric vehicle (EV) business, in September. This strategic move sets the stage for an initial public offering (IPO) in the spring of next year, valuing the EV business at an estimated €10 billion. The success of Ampere is of paramount importance to Renault's CEO, Luca de Meo, who views it as Europe's response to the challenges posed by the United States and China.
Renault is determined to fortify its position in the European market through Ampere's offerings. With the rapidly evolving automotive landscape, the company recognizes the need to adapt and respond effectively to the changing dynamics and demands of the industry.
Photo: Renault Offical Media Site
