DECRYPTION – The manufacturer is preparing the IPO of its electric car business.
Nearly two years after presenting his strategic plan called “Renaulution”, Luca de Meo, the group’s general manager will shake up the organization and governance of the French car manufacturer.
Renault needs funds to stay in the race, and to be able to invest enough in the electric car. Even if the group succeeded in significantly reducing its debt, reducing its costs and raising its selling prices, the account is not there. Its market capitalization continues to nose dive. Renault is worth only 9.3 billion euros on the stock market. That is two billion euros less than last February. Stellantis, resulting from the merger between PSA and Fiat Chrysler, has a capitalization of 43 billion euros.
This Tuesday, Luca de Meo is meeting the financial community to present the group’s next organization into several “business units”, some of which will no longer be 100% owned by Renault. He will also “sell” the project of an IPO…
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