Renault Group Explores Strategic Changes for Powertrain and EV Operations
Renault Group is exploring strategic changes to its powertrain and electric vehicle (EV) news operations. The company aims to create two new entities, one for internal combustion engines (ICE) and hybrids, and another for electric vehicles and software. These moves are part of Renault's 'Renaulution' plan and will be detailed at a Capital Market Day later this year.
The first entity, focused on ICE and hybrid powertrains, is considering a merger of activities and technologies based outside France. This new entity aims to become a global leader in powertrain development, fostering industrial and technological partnerships. Meanwhile, the second entity, dedicated to electric vehicles and software, is planned to be based in France. By 2023, it could employ more than 10,000 people and adopt a business model tailored to the unique needs of EVs. This entity is also open to partnerships in new technologies and services.
Renault Group's ambition is clear: to make the Renault brand 100% electric in Europe by 2030. These strategic moves follow a review of Renault's electric and combustion engine news activities launched earlier this year.
Renault Group is studying the creation of two new entities to drive its powertrain and EV news strategies. These moves, part of the 'Renaulution' plan, will be presented in detail at a Capital Market Day later this year. The company's goal is to make Renault a fully electric brand in Europe by 2030, and these studies are key steps towards achieving that objective.
