• With the acquisition of PVI, which specialises in the conversion of commercial vehicles to natural gas or electricity, Renault will be able to step up the implementation of new technologies, especially in the field of electric LCV conversions
• This acquisition is in line with the Group’s LCV growth strategy
Boulogne-Billancourt, February 6th, 2017 – Groupe Renault today announced the acquisition of French company PVI, short for Power Vehicle Innovation, with a view to accelerating the growth of its Light Commercial Vehicle business.
The assets of PVI, which boasts recognised expertise in the design and conversion of commercial vehicles running on natural gas or electricity, complement those of Renault. PVI’s expertise and small-scale, flexible production facility will benefit Renault, while Renault will provide economies of scale for the purchasing of components as well as a significant technology portfolio.
“We are very pleased to welcome PVI’s team specialising in electric conversions to Groupe Renault,” says Ashwani Gupta, SVP, LCV Division. “This acquisition is part of the Group’s strategy to develop its business by proposing a complete range of electric LCVs coupled with connected services. As the number one European manufacturer of electric LCVs, this is a unique opportunity for our teams to work on the next generation of this type of car. Together we will continue to innovate to ensure increasing proximity with our business customers while addressing their every need.”
PVI has previously worked with Groupe Renault on the development and electrification of the upcoming Renault Master Z.E. This large van, which was unveiled at the Brussels Motor Show on January 13, 2017 and which is due to be launched before the end of 2017, will extend the Group’s existing range of electric LCVs. The catalogue currently features four products and is unmatched anywhere in the world.
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This acquisition also includes Escal, a subsidiary in which PVI has a 95 percent stake. Escal specialises in the distribution, installation and maintenance of security systems for lifting vehicles. Escal itself manages PVI’s service, maintenance and mechanical integration activities. Both PVI and Escal, with a combined workforce of 93 employees, are attached to the Groupe Renault’s LCV Division.
About Groupe Renault
Groupe Renault has been making cars since 1898. Today it is an international multi-brand group, selling more than 2.8 million vehicles in 125 countries in 2015, with 36 manufacturing sites, 12,000 sales outlets and employing more than 120,000 people. To meet the major technological challenges of the future and continue its strategy of profitable growth, the Group is harnessing its international growth and the complementary fit of its three brands, Renault, Dacia and Renault Samsung Motors, together with electric vehicles and the unique Alliance with Nissan. With a new team in Formula 1 and a strong commitment to Formula E, Renault sees motorsport as a vector of innovation and brand awareness.
About Power Vehicle Innovation (PVI)
Power Vehicle Innovation or PVI is a French truck and bus manufacturer, based in Gretz-Armainvilliers near Paris, France, specialized in electric powertrains. PVI is a former subsidiary of Ponticelli Frères. Its current stockholders are the Marcel Dassault Industrial Group, the financial institution Centuria Capital and a business management holding company (Sovibus). PVI has been the first company in France to market Electric buses, like the Oréos 55E, which is used by the RATP on a touristic bus line in Paris, the Montmartrobus. More than half of the French electric buses in circulation in 2003 have been distributed by PVI.
Source: Groupe Renault press release