By Gilles Guillaume and Piotr Lipinski and Norihiko Shirouzu and Nick Carey
PARIS (Reuters) – Renault is considering creating separate divisions for electric and combustion vehicles, an idea that other established carmakers have been reluctant to put into practice for fears it could affect their ability to use profits from traditional businesses to finance new ventures. less polluting operations.
The French automaker posted annual profit for the first time in three years and, in a presentation to investors, described “strategic studies” that included the creation of an independent electric unit. The operation could “focus on France” and be open to “multiple partnerships”.
A separate unit for combustion engines and hybrid vehicles could focus on operations outside France and do the same (with regard to partnerships).
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Spain is Renault’s main hub for hybrid powertrain production. The company acquires combustion engines from Romania, Turkey and South Korea.
A growing preference among investment managers for companies focused on low-carbon technology has helped Tesla become the world’s highest-value automaker and has led some investors and analysts to urge other automakers to consider separating their combustion engine businesses. and electrical. However, companies such as General Motors have resisted these calls, arguing that profits from gasoline and diesel vehicles will fund the transition to electric.
Renault posted a net profit of €888 million ($1 billion) in 2021, higher than expected, and an operating margin of 3.6%.
((Reporting by Gilles Guillaume and Piotr Lipinski; additional reporting by Norihiko Shirouzu in Beijing and Nick Carey in London))
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