Renault makes ‘statement of intent’ with ICE/EV split

In February 2022, Renault announced it was considering a separate listing of its electric vehicle (EV) side of the business in 2023 as part of its Renaulution business plan, with the objective for the Renault brand to be 100% EV in passenger cars in Europe by 2030. This discussion has created a lot of buzz, yet Renault Chief Executive Luca de Meo believes the decision will not negatively impact the company, insisting it is an 'isolation' of each side: 10,000 employees on the internal combustion engine (ICE) side and 10,000 on the EV side.

Entering the stock market

Specialising in the financial market, Browne Jacobson Senior Associate Kirk Glenn describes Renault's decision to enter the 2023 stock market as "an obvious move, because if you're going to try to get involved with leading the charge in electrification and EV, you need deep pockets, you need capital, you need resources." He also noted that going full EV is expensive. "developing the batteries and software as well."