Renault goes back to the future in an electric acceleration

French carmaker Renault unveiled a more ambitious strategy for electric vehicles on Wednesday, betting on new, affordable versions of its iconic small cars of the past to catch up with Volkswagen in the fast-growing sector.

Renault Chief Executive Luca de Meo said it planned to launch 10 electric cars by 2025 and that all-electric vehicles would account for up to 90% of Renault models by 2030, dropping its reliance on hybrids to hit the target under a previous plan.