While the economic outlook for Europe may be grim, Renault is looking to expand its portfolio with the addition of the two upscale brands including the revival of the Alpine marque to produce sports cars and the creation of another label called Initial Paris to sell luxury models.
Renault's Chief Operating Officer Carlos Tavares confirmed the news in a recent interview with Bloomberg adding that the French carmaker also needs to grow its reach in emerging countries to reduce its reliance on Europe's stagnant car market.
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