Renault SA (RNO) Earnings Call Transcript & Summary

[Foreign Language] Today is an important day for Renault, but it is also a very proud day for all the teams who have been working on these projects, Latin America and especially here in Argentina. At Renault, a new phase of growth is beginning. With our future-ready strategic plan, we have a clear ambition, boost our leadership in Europe, accelerate electrification and, of course, unlock the full potential of our business outside Europe. And to support this ambition, Renault will launch 14 new cars outside Europe by 2030. And Latin America here is at the heart of this strategy. Over the past years, we have already revealed Kardian on the B segment and Boreal on the C segment, 2 major pillars of our international growth. And today, we are taking the next step on the pickup segment. Today, we will unveil Niagara. Niagara is the first future-ready car launched outside Europe, and that's not by chance. We share a long history with Latin America. Renault has been present in the region for decades, building lasting relationships with our customers, our partners and our employees. Niagara will be produced at our historical Santa Isabel plant in Cordoba, which has been manufacturing Renault cars since the '60s, including some icons like Dauphine, Renault 4 and Trafic. What I really love about Niagara is that it creates a unique proposition in its segment by combining the best of 2 worlds, the comfort and technology of a Renault car, but also the versatility, robustness, and capability expected from a pickup. Niagara is a car built for work, for family, for adventure and, at the end, for everyday life. It perfectly illustrates our strategy, a Renault car at its core, designed for the specific needs of Latin American customers. As you will discover, Niagara brings each of our 4 Renault brand markers to life. It is first designed to be loved, a bold stance, strong personality, and eye-catching presence on the road. It offers also people-first technology through smart, useful features designed to make everyday driving easier, safer and more connected, such as OpenR Link, our best-in-class connectivity system with Google built-in. It is also electrified by passion because the future of mobility is also about reducing consumption. Niagara has been consisted on our RGMP pickup platform, and it is an ultra versatile platform that will introduce our new hybrid technology, bringing greater efficiency while preserving capability and driving pleasure. Niagara benefits also from crafted space, offering the versatility, robustness, and practicality that customers expect from a pickup while delivering a comfortable and very easy onboard experience. This car is a result of the talent and passion of the women and men across Renault. Today, I would especially like to thank our teams whose dedication and know-how has helped bring Niagara to life. Thank you. I think Niagara builds on strong foundations. In 2015, we already launched the Renault Oroch, the very first compact pickup in Latin America. And since then, we sold over more than 250,000 units. At the end, Niagara perfectly embodies the Renault recipe, combining global expertise with local talent, local production, and solutions that are relevant to customers. Designed for Latin America, built in Argentina, powered by Renault DNA and ambition. Now let's discover Niagara. [Presentation]

Hello. Hello, everyone. Thank you for coming here to this incredible launch. For the new Renault Niagara, we wanted to think bigger, a car that would bring you further with an incredible stance and great roominess. Niagara goes beyond conventional ideas of a workhorse pickup truck. It's also a lifestyle vehicle with a premium and an emotional touch, allowing owners to express their way of living, offering the style and the presence of a vehicle that you actually want to be seen in. Niagara is designed to move naturally from one world to another, from outdoor activities during the weekend to business uses during the week, from the city to the open road, from everyday needs to bigger adventures, a versatility that perfectly matches with Latin American ways of life. Now let's take a closer look at this vehicle. Niagara is 4.94 meters long, [ 8.83 ] meters wide, and 1.71 meters tall. And these proportions give it a presence and a stature that is further emphasized by its high waistline in the cargo bed. With its upright front-end, sculpted bonnet, and blocky grille, Niagara has all the cues of a robust pickup. Its strong stance and powerful styling are completed by the letters of Renault written with a pixel effect on the front end. And its light signature, it adds a sophisticated high-tech touch. All of these ingredients give Niagara a modern and even premium positioning. From this side, the sculpted lines on the shoulders and the wheel arches contribute to Niagara's sturdy and adventurous character. Its true capacity to face the most remote terrain is emphasized by the high ground clearance and [ 17-inch ] black wheels with off-road tires. Both are exclusive to Niagara, outside of 4x4, its top version. The distinctive design of the C pillar provides a strong sense of dynamism with its stylized finishing and accelerated angle, a fresh and unique interpretation for the pickup segment. The load bars running along the rear quarter panel and cargo bed are integrated in the C pillar. They underline the attention to detail that we paid in designing every single part. At the rear, the name Niagara is stamped directly into the sheet metal of the tailgate. It's a robust and modern feature that you can find on premium pickup trucks. And the tail lights present a light signature in full LED technology. They are connected by a black cross strip, making the vehicle appear even wider. Now let's go to the inside. With its spacious interior, modern design and comfort, the cabin of Niagara reflects the DNA of Renault, a crafted space designed for family usage that can accommodate up to 5 people. The horizontal dashboard, seamlessly integrated with the door panels, creates a sense of space and security. The floating twin 10-inch screens underline the sophistication of this high-tech design of the cabin. It's designed as a partner in everyday use. It features a seamless and intuitive digital interface. The center console, finished and set in gray, includes a spacious storage compartment of more than 5 liters, which integrates even in refrigerated section. And the upholstery combines here black TEP for the cushion and the back rest with top stitching accents and gray green TEP for the side supports that match the body color. And at the rear, the passengers enjoy a level of comfort that is hardly seen on this type of vehicle. We offer best-in-class figures in terms of knee room and back rest inclination at 25 degrees. And we know what's important for customers. So we also added a hidden space behind the rear seats to store your bags. With this level of comfort and interior styling, Niagara is worthy of a premium SUV. So to conclude, Renault Niagara is a bold and sharp vehicle, an unconventional proposal that brings together the 2 worlds of the pickup trucks and the SUV segment. It provides versatility as well as an eye-catching design and a great comfort. In essence, Niagara is a companion to enjoy your everyday adventure. And now, ladies and gentlemen, I leave the floor to Jan Ptacek. Thank you very much.

Thank you, Laurens. Indeed, Renault Niagara opens an exciting new chapter in Renault international expansion. For more than 40 years, Renault has been a trusted player in light commercial vehicles and pickup market in Latin America. Niagara is the third Renault pickup designed for Latin America and produced in Latin America to prolong our success. And in Latin America, pickup is much more than working tool. During the weekend, it's part of the family life. And during the week, it's a business partner. That's exactly why we designed Niagara as truly versatile pickup, and this has been exactly our objective for Renault Niagara. Niagara has been built around 3 priorities: First, bold and sharp design as already presented by Laurens. Second, technologies and comfort that you would normally expect from C-SUVs. And third, strong pickup capabilities. Let me start with technology and comfort. Technology is an area where Niagara raised the bar. Inside, you will find 10-inch central touchscreen and 10-inch digital cluster, creating very modern driving experience and connected modern system with OpenR Link multimedia system, integrating Google and Gemini, we are proposing a best-in-class feature in the market. Customers enjoy seamless connectivity and intuitive digital services. Safety is another key strength of Niagara. Niagara is coming with 26 advanced driver assistance system to make every journey safer and more comfortable. Features such as 360-degree camera and rear automatic emergency brake give extra confidence to the drivers in everyday situations. Again, many features are very unique in this segment. Niagara also delivers an outstanding driving experience. Thanks to multilink rear suspension, it offers ride comfort and handling, rarely found in pickup market. Built on Renault new Renault Group modular pickup platform, customers can choose from a complete gasoline powertrain lineup, including 4x4, 4x2, automatic transmission, manual transmission and later on, hybrid powertrain will also be available. Comfort was also a key priority during the development. Front seats offer a perfect blend of comfort and support and driver seat is power adjustable for added convenience. On the rear, in line with Renault DNA, passengers enjoys generous space. rear seats offer best-in-class roominess with 200 millimeters of knee room and best-in-class 25 degrees rear seat angles with wide opening of rear doors for easy access. Whether driving across the city or traveling for long distances, Niagara offers the comfort comparable with SUVs. Additionally, hidden storage behind the second row provides 36 liters of smart and secure space for tools, equipment, backpack, or luggage. It's very practical [ for a ] pickup. Now let's talk about pickup features. At the end, pickup is made for getting the job done. And Niagara delivers, again, very strong performance. It offers best-in-class towing capacity in its category, more than 700 kilograms, more than 900 cargo volumes, more than 600 payload capacity, and a complete bed protection, thanks to full roll cover. On top of it, this full roll cover is lockable, which is also very practical. With 233 millimeters of ground clearance and 4x4 powertrain, Niagara is ready for rough and tough roads and working conditions. To sum up, Niagara is much more than pickup. It combines working capability with everyday comfort. It brings together advanced technology and practicality, all this with eye-catching design. Niagara is built for the realities of Latin America, and we are very proud to bring this new chapter to our customers across the region. Thank you very much, and I leave the floor to Pablo.

Thank you, Jan, and good morning to everyone. 6 years ago, we made a promise. We committed to transforming the brand while turning Santa Isabel into a hub for utility vehicles. Niagara is not only a new pickup. It is the result of a vision that began years ago. This is why this moment is so important for us because Niagara represents much more than new vehicle. It represents the beginning of the second product offensive for Renault Group or Renault brand. And also because for the first time, Renault chose Argentina to reveal a vehicle to the world. But there is more. To tell the story of Niagara, we must talk about the story of our factory. Santa Isabel is a plant that is preparing for the future. Our ambition is clear, to position Santa Isabel as an LCV hub for the region that will export 50% of the total production at least. To reach this ambition, Renault invested EUR 350 million to produce the first vehicle in the country based on the Renault Group modular platform. Renault Niagara will become the 35th model manufactured at Santa Isabel, a plant that has produced 3.5 million vehicles over 7 decades. Before arriving here, Niagara went through one of the most demanding validation programs with close to 800,000 kilometers of testing and more than 50,000 hours of trials. It reflects the standard we set for ourselves: durability, reliability and performance, whatever the condition. This is a moment of joy, but also a moment of recognition, a recognition of hard work and commitment. Today, I want to thanks our teams, but also the suppliers, the dealers, and the union. None of this would be possible without this collective effort. Niagara marks the end of this first stage but this is just the beginning because the future does not simply arrive. The future is built. Ladies and gentlemen, welcome to futuREady. Welcome to Renault Niagara. [Presentation]

We are so excited about this project that I got goosebumps. So well, as I mentioned before, this project is a result of a shared vision. So let me invite to the stage Fabrice, Laurens, also Jan to take the last photo, and thank you very much, and see you next time. Thank you.