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Renault electric car business may be listed in the second half of 2023

 Last Update: 2022-05-22
 Source: Internet
 Author: User

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According to foreign media reports, Renault said that "all options are being considered" for breaking up the electric vehicle business, including a possible launch in the second half of 2023
.
Renault Chief Financial Officer Thierry Pieton said any plans would need approval from alliance partner Nissan, but he made clear that it was "in the know" when weighing options
.

In February, Renault CEO Luca de Meo began planning major structural changes
.
Renault is considering a spin-off of its electric car business and a separate listing, with its legacy businesses (hybrid and combustion engine businesses) likely to be developed jointly with partners
.
A potential partner in Renault's traditional business is Zhejiang Geely Holding Group, people familiar with the matter said
.
Earlier this year, Renault and Geely Holding reached an agreement to build a joint-venture factory in South Korea, and the two companies have also said they may cooperate in China
.
A representative for Geely Holding declined to comment
.

　　Bloomberg reported that Renault may consider reducing its stake in Nissan as part of its plan to break up its electric car business
.
Shares in Renault jumped 5% on the news
.
Renault's spin-off of its electric-car business could include Nissan assets, but Nissan would also be a partner in Renault's hybrid and combustion-engine businesses, the people said
.

　　Renault is not the first carmaker to want to break up its electric car business
.
In April, Ford said it would run its electric vehicle business separately from its traditional internal combustion engine business
.
Renault has been pushing ahead with plans to split its electric car and combustion engine businesses to help it raise money for the development of electric vehicles and technology and catch up to rivals such as Tesla and Volkswagen AG
.

　　In addition, Renault said it was "making progress" in negotiations over the future of its Russian joint venture AvtoVAZ
.
Renault, which holds a 68 percent stake in AvtoVAZ, said in April that it was evaluating the future of AvtoVAZ
.

　　Renault declined to comment on the report, while Nissan said, "We do not comment on speculation
.
"

　　Original title: Renault electric car business may be listed in the second half of 2023

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