Renault Details Electric-Vehicle Split; Targets Margin Growth -- Update
2022年11月8日 - 5:29PM
Dow Jones News
By Kim Richters
Renault SA said on Tuesday that it expects to increase its
operating margin and bring back dividends as it detailed plans to
separate its electric-vehicle business from combustion engine
activities.
As part of its highly-anticipated capital market day, the French
car maker said it would create a stand-alone company focused on
electric vehicles and software called Ampere, aiming to potentially
list it on the stock market in France earliest in the second half
of next year subject to market conditions. It plans to keep a
majority and seek the support of possible strategic cornerstone
investors.
As part of the overall restructuring, Renault is talking to
Nissan Motor Co. about reducing its stake in the Japanese car maker
and Nissan investing in Renault's new electric-vehicle business,
the Wall Street Journal has reported recently, citing unnamed
sources.
On Tuesday, Renault said it was currently in discussions with
Nissan and Mitsubishi Motors Corp., including about both partners
potentially investing in Ampere but it didn't disclose any
potential terms.
Meanwhile, Renault said it had signed a non-binding framework
agreement with China's Zhejiang Geely Holding Group Co. to form a
shared new company that will focus on making hybrid powertrains and
internal combustion engine powertrains.
While restructuring its operations, Renault aims to reinstate
dividend payouts from next year and targets a higher group
operating margin over the next years. It is targeting a margin
above 8% in 2025 and above 10% by 2030 with free cashflow above 2
billion euros ($2 billion) per year on average over the years
2023-2025 and above EUR3 billion per year on average over
2026-2030. It has previously aimed for a 2025 margin of at least
5%.
Renault also backed this year's guidance, which includes an
operating margin of above 5%.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
November 08, 2022 03:14 ET (08:14 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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