It comes as car makers around the world face the risk of US tariffs, after President Trump suggested he will impose tariffs on car imports as high as 25pc.
Renault’s partnership with Chinese electric car maker Geely may be a more natural one than its long-time alliance with Nissan, its chief executive said.
China is seeking talks with the European Union over electric vehicle tariffs after Donald Trump threatened to unleash levies on the global car industry.
The German car maker said it plans to slash production costs by 10pc by 2027 as it seeks to “ensure the company’s future competitiveness”.
Mercedes-Benz shares sank 3pc in early trading after the German car maker warned profits would be “significantly lower” this year.
