Renault, de Meo confirms: & quot; We evaluate the creation of an electric brand & quot;

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While behind the scenes Renault reflects on how to protect the approximately 2 billion euros invested so far in its activities; in Russia, Luca de Meo said he sees the electric car business as “another sport” than conventional internal combustion. & Egrave; emerged during the Financial Times Future of the Car 2022, where the CEO also confessed what the two & quot; sports & quot; mean; for the French group.

That of electric cars is; for us a growing business, while the one related to internal combustion engines (also called ICE, ed) represents a stable source of income.

From this consideration derives the idea that management could resolve the issue by separating the activities; also at the level of the brand , of the brand: Renault would do what it has always done, that is; internal combustion cars albeit with an ever-increasing degree of electrification as required by the regulations, while another brand (and in the past the rumors had already aired the hypothesis) would deal with pure electric.

Shortly after & egrave; it was the Italian manager himself who confirmed the scenario . & quot; From an industrial point of view it might make sense to create & quot; two teams & quot; so & igrave; to compete more and more; effective in two & quot; disciplines & quot; several, 'he said. At that point there will be; for & ograve; to convince investors, so to attract capital – a little as done by Tesla – in the hope of engaging an evolutionary spiral that allows to approach the business with greater incisiveness; Not too long ago, Volvo did a similar operation by decoupling traditional production from electric production under the Polestar brand.

So we need a well-structured plan , credible . De Meo & egrave; conscious:

[We will launch] when we understand that we are ready to prove to the financial markets and investors that the operation makes sense.

After all, for internal combustion engines there is still time, thanks to electrification. The number one of the French company already had; said that in 2030 the largest portion of sales will concern & agrave; cars with petrol or diesel hybrid engines.

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We think the ICE (internal combustion engine, ed) still has potential. They serve for & ograve; synergies, collaborations with other players, and separating the activities; you can & ograve; get a cost advantage like this; to invest part of the earnings in new technologies. […] It is not a question of dividing the company in two, but of isolating two activities; completely different.

The Italian CEO added that the new brand could bring about 10,000 employees out of a total workforce of the Renault group which has about 160,000 employees.

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