Renault Trucks and the Volvo Group invest €33 million in a new R&D centre in Lyon

Renault Trucks, owned by Volvo Group since 2000, has officialised the decision of opening a brand-new R&D centre near Lyon in France.

The region has a long history and relationship with the automotive industry. Already in the 19th and early 20th century, Lyon was an attractive place for car engineers and welcomed the first production lines. Throughout time this tradition has been maintained and today the pool of talents and experts in this field is a major one in Europe. Thus, it does not come as a surprise that the Volvo Group already holds its 2nd biggest R&D centre in this region.

A new organisation for Volvo Group to face today’s challenges

Yet, this new centre aims at being even larger, gathering 1,000 experts. In the same building, engineers and sales representatives will be working side by side. This serves a purpose of efficiency, especially regarding the process of validation of projects. Indeed, Renault Trucks and the Volvo Group are preparing themselves to face the upcoming challenges and ensure the success of their new products.

France offers the most attractive incentives for R&D

With this context in mind the choice to grow their R&D activities in France is not random. The research tax credit (CIR) rate is of 30% of R&D expenses up to €100 million and of 5% of expenditure above this threshold. The CIR is available to companies of any size and from any sector. Thus, France is the leading recipient of R&D activities in Europe in front of the UK and Germany. Moreover, France is ranked 6th in the world and 2nd in Europe for gross domestic expenditure on R&D. France offers a wide range of financial help. One of them is the €10 billion Fund for Industry and Innovation aimed at plans launching major initiatives which are to impact the economy and society.