CEO Luca de Meo wants to increase the operating margin, a measure of the company’s profitability, to over ten percent by 2030, as the company announced Tuesday. A good five percent profit margin is planned for this year. And by 2025, the margin should be more than eight percent.
The group wants, among other things, to divide the work into five independent parts. The electric car and software division will be called “Amps” and will go public on the Paris Stock Exchange in the second half of 2023 at the earliest. Under a framework agreement, the French want to join forces with Chinese automaker Geely in a joint venture for the production of combustion and hybrid drives.
In addition to its electrical and software division and propulsion technology, Renault plans other units with its own controls and its own balance sheets: a financial services and mobility services division, luxury sports car brand Alpine, and a circular economy oriented company. According to the information obtained, Renault wants to hold the “strong majority” in the “Amper” electronics business, which is planned to be listed on the stock market, but will also add important investors such as the US chip giant Qualcomm. (SDA)