Renault Group acquires EV commercial manufacturer

The Renault Group is acquiring another French company called Power Vehicle Innovation (PVI), to accelerate the growth of its light commercial vehicle business.

PVI assisted Renault on the development and electrification of the new Renault Master Z.E. which it displayed at the Brussels Motor Show on January 13.

The new Master Z.E is launching towards the end of 2017 and it will extend the Renault brand’s existing range of electric LCVs.

The Renault Group says that PVI’s recognised expertise in the design and conversion of commercial vehicles running on natural gas or electricity complements its expertise in vehicle production.

PVI’s skill in small-scale, flexible manufacturing will benefit the Renault Group, while it will provide economies of scale for the purchasing of components as well as a significant technology portfolio.

“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,” says Ashwani Gupta, senior vice president of Renault light commercial vehicle division.

“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,” says Gupta.

This acquisition also includes Escal, a subsidiary in which PVI has a 95% stake.

Escal specialises in the distribution, installation and maintenance of security systems for lifting vehicles and it manages PVI’s service, maintenance and mechanical integration activities.

The combined PVI and Escal workforce of 93 employees, are now part of Renault’s LCV Division.