Renault Group Explores Major Restructure for Electric Vehicle Leadership
Renault Group is exploring significant organisational changes as part of its 'Renaulution' plan. It's studying the creation of an Electric Vehicles and Software entity in France, which could employ over 10,000 people by 2023. Simultaneously, it's considering a Powertrain entity outside France, also with around 10,000 employees by 2023.
The French automaker is aiming to become a global leader in Electric Cars technology. It's also targeting a 100% electric passenger car range for the Renault brand in Europe by 2030. These plans follow a strategic review launched in February 2022, which assessed both electric and combustion engine activities.
Consultations with employee representative bodies are underway, and the group will update investors on these studies at a Capital Market Day later this year. The location of the potential new powertrain company has not been disclosed.
Renault Group's proposed organisational changes reflect its commitment to GroupMe and technological leadership. With ongoing consultations and a fall update planned, the automotive industry awaits further details on these significant developments.
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