The French automaker said on Wednesday that Renault SA is looking to divest and separately list its electric-vehicle business.
A Renault spokesman, confirming remarks made by chief executive Luca de Meo the previous day, told Ezfi-Dow Jones that the company was considering listing its electric activities separately.
“A listing is possible, but subject to certain conditions,” the spokesperson said, referring to remarks made by Mr. de Mayo at an event organized by a French automobile publication.
“The goal is to create value and bring to the fore the value of our business activities,” the spokesperson said, adding that the group was studying all possible options.
In its 2021 results in February, Renault said it was looking at moving its fully electric activities and technology into a new French business, and its non-French hybrid and combustion activities as another entity.
This latter business will be open to Japan’s Nissan Motor Co and other long-term investors, a Renault spokesperson said, again confirming comments made by Mr. Di Meo. Both Nissan and Renault hold a minority stake in each other’s share capital.
Renault should further elaborate its spinoff plans at the Investor Day to be held in the autumn.
This story was translated in whole or in part from a French-language edition, initially published by Egfi-do Jones.
This story has been published without modification to the text from a wire agency feed