Renault Korea to launch new models annually through 2029, produce next-gen EVs in Busan from 2028

Renault Korea CEO Nicolas Paris holds a press conference on the company's business vision at a hotel in Seoul, Tuesday. Courtesy of Renault Korea

Renault Korea, the Korean unit French automotive giant Renault S.A., plans to roll out new models annually through 2029 and begin producing its next-generation electric vehicles (EVs) at its Busan plant in 2028, its chief said Tuesday.

Nicolas Paris, chief executive officer (CEO) of Renault Korea, shared such a plan at a press conference in Seoul while announcing the Korean implementation of the "Future Ready" initiative previously announced by the Renault Group.

Under the strategy, Renault Korea will position itself as a key hub for the French automotive group's D and E segment vehicles and roll out new models annually through 2029.

The company also aims to produce next-generation EVs at its plant in Busan, about 330 kilometers southeast of Seoul, starting in 2028.

"Our ambition goes beyond volume. We aim to lead in quality and premiumness, and in our ability to design, develop and industrialize flagship models for the group," Paris said.

As part of its technology road map, the company plans to build a localized EV ecosystem in Korea, including battery production, while accelerating the development of software-defined vehicles (SDVs) and systems based on artificial intelligence (AI).

The Busan plant will serve as a central production base under the strategy, with a focus on quality and advanced manufacturing capabilities.

Paris stressed that the Busan plant is recognized globally within the group and will play a key role as a hub for midsize to large vehicle segments.

"Quality is our top priority," Paris said, adding, "We will not take any measures that could jeopardize quality."

He also acknowledged growing challenges in exports amid geopolitical tensions and protectionist trade policies.

"Let's be honest. I do not think we will return to the 300,000 units (in annual production) we had in the past, which was mainly driven by exports," he said. "With geopolitical constraints and protectionism, exports are becoming more and more difficult."

Despite the challenges, Paris expressed confidence in Renault Korea's competitiveness, citing the quality and driving performance of its products.

"We have outstanding products on the market," he said, adding that they are "among the best in terms of (noise, vibration and harshness), ride handling and comfort."