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Renault says will produce three new hybrid models in Spain

MADRID, March 23 (Reuters) - France’s Renault said on Tuesday it will produce three new higher-margin hybrid models in 2022-2024 in Spain following a new labour agreement struck recently with unions.

The carmaker will make Spain a major hub for its E-TECH hybrids as it seeks to refocus its business to cut costs and improve margins after reporting an 8 billion euro loss in 2020.

Renault currently manufactures three vehicles at its Palencia and Valladolid plants, in northwestern Spain. (Reporting by Joan Faus Editing by Ingrid Melander)

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