Renault will split EV from combustion unit, seeks partnerships:
Renault intends to retain majority ownership of its electric division, which will employ about 10,000 people and which could be bourse-listed via an IPO in the second half of 2023.
However, it will only remain a reference shareholder, not a controlling shareholder, of the combustion engine unit, which will have similar staff levels, said two other sources familiar with the plans.The carmaker at a capital market day this autumn will set out its plans for its electric arm based in France and the combustion unit headquartered abroad.in Spain, Portugal, Turkey, Romania and Latin America.
Among potential partners for its combustion engine business, CEO Luca de Meo in April mentioned Nissan, other automotive groups and long-term investors.next month to discuss potential Japanese participation in its electric and combustion engine projects. Renault is undergoing a major restructuring aimed at restoring its finances and recently signed partnerships beyond its historical alliances with Nissan, Mitsubishi and
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