PARIS -- The management team for Renault's Horse engines division is set to be based in Madrid, two sources close to the matter told Reuters.
Renault plans to restructure its activities into six separate units that include Horse, a 50-50 joint venture with Geely to build combustion-based powertrains, including hybrids.
Ampere will be a spinoff of the EV business that could be publicly listed as soon as the second half of 2023, while Power will produce combustion-based vehicles under the Renault and Dacia brands, as well as commercial vans.
Future is Neutral will organize recycling and "circular economy" activities for the automaker, with the sports-car brand Alpine and mobility unit Mobilize making up the last two divisions.
