French carmaker Renault SA (RNO.FR) is not interested in acquiring its troubled German competitor Adam Opel AG or any other companies at this time, the company's chief executive said Wednesday.

CEO Carlos Goshn told the annual shareholders meeting that Renault is focused only on its recovery from the global economic crisis. Though after the company recovers, it could consider tie-ups with other carmakers, he said.

Goshn said that strengthening its cooperation with its Nissan affiliate in Japan is vital.

Demand for automobiles faces a downturn in mature markets and in large urban areas around the world, while that in emerging markets and outside urban areas will grow, Goshn said.

He said electric cars will be launched onto the market in the not-to-distant future.

Chief Operating Officer Patrick Paleta told shareholders that the company's capacity utilization rate in Europe is just 57% and that the company is taking measures to improve the situation. He said the rate outside Europe is much better on balance.

He noted that Renault has been operating under capacity during the global economic crisis, but added that it was below capacity even before the downturn.

Renault also reiterated that this is not the right time to launch a capital increase. The company added that it intends to bring debt levels down over the next two years.

Company Web site: www.renault.com

-By A.H. Mooradian, Dow Jones Newswires; +33 1 4017 1740; art.mooradian@dowjones.com.