Renault Explores Dual Entities for EV & Software Boost
Renault Group is exploring strategic moves to bolster its electric vehicle (EV) and software capabilities. The French automaker is studying the creation of two separate entities, one for thermal and hybrid engines, and another for electric vehicles and software. These moves aim to strengthen Renault's technological prowess and contribute to low-emission fuel development.
The first entity, focused on thermal and hybrid engines and transmissions, is considering a global entity outside France. This move aims to enhance the potential of Renault's technologies and foster development in low-emission fuels. Meanwhile, the second entity, dedicated to electric vehicles and software, is planned to be based in France, employing over 10,000 people by 2023.
Renault's ambitious 'Renaulution' plan targets making Renault a 100% electric brand for passenger cars in Europe by 2030. The group has initiated strategic reflections on its electric and thermal activities to enhance efficiency and performance. Both entities aim to create cutting-edge industrial and technological partnerships, with the electric vehicle entity operating autonomously and adapting its business model to the specificities of EVs.
Renault Group will present the progress of these studies at a Capital Market Day this fall. Consultations with employee representative bodies are ongoing. These strategic moves underscore Renault's commitment to electrifying its lineup and strengthening its technological capabilities, positioning the company at the forefront of the EV revolution.
